BSP extends inflation fight with fresh rate hike

MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) hiked its key rate by another quarter-point on Thursday, extending its tightening cycle to tame above-target inflation. The decision of the Monetary Board brought the policy rate to 5 percent. Since April, the central bank has raised the benchmark rate by 75 basis points.  READ: Poll: BSP