BSP delivers another rate hike
It’s their fresh attempt to pull inflation down.
The Bangko Sentral ng Pilipinas (BSP) raised rates further by 25 basis points on Wednesday, June 20.
“Equally important, while latest baseline forecasts have shifted lower for 2018-2019, upside risks continue to dominate the inflation outlook, even as various measures of core inflation continue to rise,” the central bank said.
This follows a similar rate adjustment in May.
“Although inflation expectations remain within the target range for 2019, elevated expectations for 2018 highlight the risk posed by sustained price pressures on future wage and price outcomes,” BSP Governor Nestor Espenilla, Jr. added.