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Article: Philippine central bank raises overnight interest rates
- Article from:
- Xinhua News Agency
- Article date:
- April 7, 2005
CopyrightCopyright 2005 Xinhua News Agency. Provided by ProQuest LLC. (Hide copyright information)
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Philippine central bank raises overnight interest rates
MANILA, April 7 (Xinhua) -- The Philippine central bank Thursday
said that it has decided to raise its overnight interest rates by 25
basis points due to the sustained sharp rise in inflation.
Central bank deputy governor Amando Tetangco Jr. told reporters
that the Monetary Board decided to raise interest rates because
inflation expectations are going up
"While the main driver of inflation is still supply-side factors,
there are some demand pressures that are beginning to emerge," he
said.
Currently, the ...