Philippine Central Bank Raises Rates for Third Straight Meeting
By Amanda Lee
The Philippine central bank raised interest rates for the third straight meeting Thursday, seeking to keep inflation under control as higher energy prices threaten to push up costs across the economy.
Bangko Sentral ng Pilipinas raised its benchmark overnight reverse repurchase rate to 5.00% from 4.75%, diverging from some regional peers, including Bank Indonesia and Bank of Thailand, which left their rates unchanged.
The BSP also raised its benchmark lending rate to 5.50% from 5.25%.
The decision was widely expected, with 10 of 11 economists polled by The Wall Street Journal forecasting a rate increase.
The central bank has now raised its policy rate by a total of 75 basis points since April, as policymakers continue to assess the full impact of the Middle East conflict.
Like other Asian economies, the Philippines has been hit by higher energy prices. The country is particularly exposed because it relies heavily on imported fuel, making consumers and businesses vulnerable to higher oil and electricity costs.
Write to Amanda Lee at amanda.lee@wsj.com
(END) Dow Jones Newswires
August 27, 2026 02:53 ET (06:53 GMT)
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