BSP delivers jumbo 50-basis-point rate hike
All outlets reported that the Bangko Sentral ng Pilipinas raised its key policy rate by half a percentage point to 5.5 percent on Thursday as part of its ongoing effort to curb high inflation.
Drafted with AI from these 5 reports, checked and approved by a Parley editor. Approved 23 Oct, 8:36 AM.
What each outlet reported
Inquirer reported that the BSP raised its policy rate by half a percentage point to 5.5 percent, a bigger-than-expected increase in its fight against inflation.
Read Inquirer's report →Daily Tribune reported that the central bank has now raised rates in its last four monetary policy meetings, bringing its key rate to 5.50 percent.
Read Daily Tribune's report →GMA News Online reported that the BSP hiked rates by 50 basis points amid expected inflation and El Niño effects, extending its tightening streak to a fourth straight meeting.
Read GMA News Online's report →Philstar reported that the BSP's rate hike, along with a weakening peso, caused the local stock market to snap its five-day rally.
Read Philstar's report →The Manila Times reported that monetary authorities raised key policy rates by half a percentage point and signaled that more rate hikes are likely.
Read The Manila Times's report →Excerpts courtesy of GMA Network and GMA News Online.
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