Metrobank sees 50-bps BSP rate hike today

Metropolitan Bank & Trust Co. (Metrobank) expects another 50-basis point (bp) interest rate hike after the Bangko Sentral ng Pilipinas' (BSP) Monetary Board meeting today, Sept. 22, as the regulator seeks to control the inflation contagion and calm volatile foreign exchange movements. The BSP was seen to follow up with further hikes on expectations consumer prices will remain elevated in the coming months, said Fernando Antonio Tansingco, Metrobank treasurer and head of financial markets. "We think [we will see] 50 basis points [on Thursday] but hopefully we can increase at a faster pace. Then the pace of the peso depreciation will slow down," he told reporters on Wednesday. ...

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