Philippines central bank raises rates in inflation battle
The bank unexpectedly raised its policy rate to 5.5% to curb inflation amid tensions in the Middle East and a strong El Niño; in contrast, Kazakhstan's central bank has cut rates.
The Bangko Sentral ng Pilipinas (BSP) raised its target reverse repurchase rate by 50 basis points (bps) to 5.50% on October 22, delivering its largest increase since February 2023 and its fourth consecutive hike.
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