The Monetary Board is expected to raise on Nov. 17 the policy rate of the Bangko Sentral ng Pilipinas (BSP) by 0.75 percentage point (ppt) to match an expected hike by the United States Federal Reserve (US Fed), whose Open Market Committee will meet on Nov. 1 to 2. If this happens, it would be the first time the BSP would mimic the US Fed's moves since both central banks started tightening after latching on to accommodative policies at the height of the COVID-19 pandemic. The BSP's overnight borrowing rate was at a record low of 2 percent until it started raising rates in May. The US Fed's target range for the federal funds rate was at zero to 0.25 percent until it embarked on norm...
Keep on reading: BSP to mimic Fed moves as inflation woes linger
from INQUIRER.net https://ift.tt/WXcm5aR
0 Comments