The Philippines

A First Rate Hike for the Philippines

March 24, 2011

Bangko Sentral ng Pilipinas implemented its first rate change since July 2009, lifting its overnight borrowing rate and overnight lending rate by 25 basis points each to 4.25% and 6.25%.  Declaring that the 3-5% inflation target for 2011-12 “could be at risk,” a released statement from the central bank’s Monetary Board called its action a […] More