Philippine Central Bank Hikes Key Interest Rate for Second Time Amid Rising Inflation

Philippine Central Bank Hikes Key Interest Rate for Second Time Amid Rising Inflation
Thai baht notes are seen at a Kasikornbank in Bangkok, Thailand, on May 12, 2016. Athit Perawongmetha/file/Reuters
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The Philippine Central Bank (BSP) raised its key interest rate for the second straight month to curb inflation, raising the key policy rates by 25 basis points to 2.5 percent effective June 24.

The change, which had been widely anticipated by analysts, followed a 25-basis-point rise in May, the country’s first interest rate increase since 2018.