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.
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