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Philippine central bamk hikes rates by 50 bps, as expected

Philippine central bamk hikes rates by 50 bps, as expected

FILE PHOTO: FILE PHOTO: A logo of Bangko Sentral ng Pilipinas (Central Bank of the Philippines) is seen at their main building in Manila, Philippines March 23, 2016. REUTERS/Romeo Ranoco/File Photo/File Photo

MANILA: The Philippine central bank raised its benchmark interest rates by half a percentage point on Thursday (Sep 22), as expected, the fifth hike this year to curb inflation and support a sagging local currency.

The Bangko Sentral ng Pilipinas lifted the overnight reverse repurchase facility rate to 4.25 per cent, as predicted by most economists in a Reuters poll.

Source: Reuters/st

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