BSP, the Philippines’ central bank, has begun rate hikes to tackle the country’s highest inflation rate since 2018. After two 25-basis point bp hikes in May and June, the BSP raised interest rates by 75bp to 3.25% on July 14, a surprise move that signalled a more aggressive monetary policy to come.
Felipe Medalla, who took over the role of governor of the BSP on July 1, spoke to FinanceAsia about this decision, and shared his outlook for the county’s growth and digitisation path.
FA You are taking on the role of BSP governor at a time of unprecedented macroeconomic headwinds and global uncertainty….
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