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December 06, 2022

BSP keen to be more aggressive on rate hikes

The central bank wants to further tighten its policy rate.

The BSP intends to be a “little aggressive” in tightening policy to taper off inflation to within its target range of 2%-4% in the following year. Governor Felipe Medalla said, as he signalled his preference for bigger rate hikes ahead. He further added that the BSP would vote to match the policy move of the U.S. Federal Reserve, which is likely to hike another 75 basis-point rate increase at its meeting next week.