BSP gov says series of rate hikes ‘did not take away future growth’

August 26, 2022 - 2:11 PM
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Bangko Sentral ng Pilipinas
The BSP's main building on Roxas Boulevard, (Reuters file photo)

The Philippine central bank’s series of rate hikes this year meant to combat inflation would not dampen the country’s economic recovery, its governor said on Friday.

The central bank’s total 175 basis points rate increase this year “did not take away future growth,” Bangko Sentral ng Pilipinas Governor Felipe Medalla told a budget hearing at the lower house of Congress.

—Reporting by Karen Lema; Editing by Kanupriya Kapoor