BSP chief more hawkish amid stubborn inflation

The expected increase in the policy rate of the Bangko Sentral ng Pilipinas (BSP), on which the Monetary Board (MB) is scheduled to decide today, will be an easy decision to make and is expected to be followed by more, considering the continued need to bring down inflation, according to BSP Governor Felipe Medalla.

The hike in the BSP’s overnight borrowing rate, which currently stands at 3.25 percent, “is going to be more than a coin toss,” Medalla said.

The BSP chief, who is also MB chair, was speaking at a panel hosted by the Economic Journalists’ Association of the Philippines in partnership with San Miguel Corp.

Last July 26, Medalla said the MB policy meeting in August, the…

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