Article: Philippine central bank raises overnight interest rates

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 ...

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