Philippine Peso Hits Record Low as Inflation Fears Trump Rate Hike
The Philippine peso hit a record low of 63.615 to the dollar on Friday. Concerns over the domestic inflation outlook overshadowed an aggressive interest rate hike by the central bank, pushing the currency lower.
Read up to 3 eligible full articles per Japan day (JST) for free
Create a free account to open up to 3 eligible full articles per Japan calendar day (JST). Headlines and summaries remain available across ASEAN 7.
Related articles
- Philippine Stocks Decline on Rate Hike, Weaker Peso
Philippine stocks retreated on Friday as investors weighed the impact of higher borrowing costs on economic growth, compounded by a weakening peso. The benchmark Philippine Stock Exchange Index (PSEi) dropped 0.88 percent to close at 5,728.63.
- BSP Signals Further Rate Hikes Amid Inflation Concerns
The Bangko Sentral ng Pilipinas (BSP) is poised for further interest rate hikes in December to combat inflation and a weakening peso. Some economists anticipate continued monetary tightening into early 2027, raising concerns about the impact on economic growth.
- Philippines Central Bank Hikes Rates Sharply to Combat Inflation Amid Growth Concerns
The Bangko Sentral ng Pilipinas (BSP) delivered its biggest interest rate hike in over three years, a 50-basis-point increase, to combat rising inflation pressures. The benchmark rate now stands at 5.50%. This aggressive move comes amidst concerns over slowing economic growth, drawing attention to future economic trends.
- BSP Unleashes Jumbo Rate Hike vs Inflation
The Bangko Sentral ng Pilipinas (BSP) raised its policy rate by 0.50 percentage points to 5.5 percent, delivering a larger-than-expected increase to combat stubbornly high inflation, a move that raises concerns about its impact on daily life.