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Economy
1 MIN READ
Philippine central bank raises interest rates by 50 bps
December 15, 2022
By Reuters
By Reuters
MANILA, Dec 15 (Reuters) – The Philippine central bank raised its benchmark interest rate by 50 basis points to 5.50% on Thursday, in line with its commitment to bring inflation, currently 8%, down to between 2% and 4% next year.
The rate hike, which was the seventh this year, was unanimously expected by 21 analysts in a Reuters poll.
(Reporting by Neil Jerome Morales and Karen Lema; Editing by Himani Sarkar)
This article originally appeared on reuters.com