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September 26, 2022

BSP hikes policy rate to 4.25 percent

The BSP raised its rate following the US Fed Reserve’s rate hike.

The BSP once again raised its policy rate by 50 basis points following the US Federal Reserve aggressive rate hike.

Following the hike, the overnight reverse repurchase rate now stands at 4.25 percent.

The BSP has cumulatively raised rates by 225 basis points this year alone.

The BSP then emphasized that it is ready to use its monetary tools, which means there could be more interest rate hikes, to curb the effects of rising inflation.