BSP expected to hike key policy rates

MANILA, Philippines?British banking giant HSBC expects the Bangko Sentral ng Pilipinas to raise its key rates by 25 basis points when members of its monetary board sit down on March 24 as consumer prices are now rising faster than anticipated due to surging global oil and food prices. The inflation figure in February, which rose to 4.3 percent from the 3.6 percent seen in January, served as a ‘wake-up’ call for the regulator, Hong Kong-based HSBC economist Sherman Chan said in a research note issued last Friday after the Philippine inflation report came out. ‘The BSP is unlikely to sit tight for long given that it monitors inflation closely and has had a credible…

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BSP expected to hike key policy rates