MANILA -As expected, the Monetary Board (MB) raised the Bangko Sentral ng Pilipinas' (BSP) key policy rate by 0.25 percentage point (ppt) or 25 basis points to 6.25 percent effective on March 24 as inflation remained high in February. Also, the interest rate on the overnight deposit was raised by as much to 5.75 percent as was the rate on overnight lending to 6.75 percent. Asked whether this was the last hike in the current monetary policy tightening cycle, MB chair and BSP Governor Felipe Medalla said in a press briefing decisions in upcoming meetings will depend on data that would come in.

https://business.inquirer.net/392616/as-expected-mb-raises-key-rate-to-6-25

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