MANILA (Reuters) – The Philippine central bank raised its key policy rate by 75 basis points on Thursday.
The move was widely expected after Governor Felipe Medalla said on Nov. 3 that the Bangko Sentral ng Pilipinas needed to match the U.S. Federal Reserve’s 75 bps rate hike earlier this month.
(Reporting by Neil Jerome Morales and Enrico dela Cruz; Writing by Karen Lema; Editing by Edmund Klamann)
