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BSP to continue supporting economic recovery despite rate hikes
August 2, 2022
By Reuters
By Reuters
MANILA, Aug 2 (Reuters) – The Philippine central bank will continue supporting the economy’s recovery despite a planned 25 or 50 basis point rate hike this month, its governor said on Tuesday.
Current policy rates remain accommodative, Bangko Sentral ng Pilipinas Governor Felipe Medalla told a business forum.
Policymakers will meet on August 18 to adjust its reverse repurchase facility rate that is currently at 3.25%.
(Reporting by Neil Jerome Morales; Editing by Kanupriya Kapoor)
This article originally appeared on reuters.com