50bp rate hike possible from BSP
It’s the best way to keep inflation from going any faster.
The Bangko Sentral ng Pilipinas (BSP) should consider getting “more aggressive” in interest rates and tighten with more fervor, according to UA&P economist Bernie Vilegas.
In a Business World report, the seasoned economist said the central bank should tighten rates by 50 basis points soon to solve the problem of being behind the curve once and for all.
“We need more aggressive policy because countries all over the world are raising interest rates and we are behind the curve,” Villegas said.
The stronger policy response is expected within the third quarter.