MANILA (Bloomberg): The Philippine central bank will sustain its rate-hike cycle this quarter, following a surprise move in July, to quell broadening price pressures, according to Bloomberg survey of economists.
The benchmark interest rate is expected to increase by another 75 basis points to 4% by the end of September, a survey showed. Bangko Sentral ng Pilipinas is seen to pause in October-December, before raising borrowing costs by half-a-point in the first quarter of 2023, based on the latest estimates.
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