Philippines central bank plans December hike to keep pace with Fed, says governor

MANILA, Nov 22 (Reuters) – The Philippines’ central bank plans to adjust its policy rates in December to keep up with an expected 50 basis points rate hike by the US Federal Reserve, its governor said on Tuesday.

Keeping in step with the Fed will prevent volatility and pressure on the peso, Bangko Sentral ng Pilipinas Governor Felipe Medalla told reporters at the sidelines of a fintech summit.

(Reporting by Neil Jerome Morales; Editing by Ed Davies)