The Canadian Press - ONLINE EDITION

Philippine central bank raises overnight borrowing rate to pre-empt rise in inflation

  • Print

MANILA, Philippines - The Philippine central bank has raised its key interest rate by a quarter percentage point to counter inflation.

The rate the central bank charges commercial banks for overnight borrowing was Thursday raised to 5.75 per cent.

Central bank Gov. Amando Tetangco says the decision was "a pre-emptive response to signs of inflation pressures and elevated inflation expectations."

He says latest forecasts for inflation have shifted closer to the higher end of the 2015 target range of 2 to 4 per cent.

Tetangco cites higher food prices, short-term volatility in oil prices and pending power rate and transport fare increases as adding to risks.

Last month's Inflation rate was 4.4 per cent, within government's 2014 target.

Fact Check

Fact Check

Have you found an error, or know of something we’ve missed in one of our stories?
Please use the form below and let us know.

* Required
  • Please post the headline of the story or the title of the video with the error.

  • Please post exactly what was wrong with the story.

  • Please indicate your source for the correct information.

  • Yes

    No

  • This will only be used to contact you if we have a question about your submission, it will not be used to identify you or be published.

  • Cancel

Having problems with the form?

Contact Us Directly
  • Print

You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is be a Winnipeg Free Press print or e-edition subscriber to join the conversation and give your feedback.

You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is be a Winnipeg Free Press print or e-edition subscriber to join the conversation and give your feedback.

Have Your Say

New to commenting? Check out our Frequently Asked Questions.

Have Your Say

Comments are open to Winnipeg Free Press print or e-edition subscribers only. why?

Have Your Say

Comments are open to Winnipeg Free Press Subscribers only. why?

The Winnipeg Free Press does not necessarily endorse any of the views posted. By submitting your comment, you agree to our Terms and Conditions. These terms were revised effective April 16, 2010.

letters

Make text: Larger | Smaller

LATEST VIDEO

HSC ready for Ebola

View more like this

Photo Store Gallery

  • MIKE APORIUS/WINNIPEG FREE PRESS BUSINESS - cow on farm owned by cattle farmer Lloyd Buchanan near Argyle Wednesday afternoon -see Larry Kusch's story  January 04/2006
  • A monarch butterfly looks for nectar in Mexican sunflowers at Winnipeg's Assiniboine Park Monday afternoon-Monarch butterflys start their annual migration usually in late August with the first sign of frost- Standup photo– August 22, 2011   (JOE BRYKSA / WINNIPEG FREE PRESS)

View More Gallery Photos

Poll

Will you get out and vote for a new mayor and council?

View Results

View Related Story

Ads by Google