MANILA — The Philippine central bank raised its benchmark interest rate by 25 basis points for a second consecutive policy meeting on Thursday to curb red-hot inflation.
The Bangko Sentral ng Pilipinas (BSP) lifted the overnight reverse repurchase facility rate PHCBIR=ECI to 2.50%, as expected by most economists in a June 13-20 Reuters poll.
—Reporting by Neil Jerome Morales, Karen Lema and Enrico Dela Cruz; Editing by Martin Petty
