BSP hikes policy rate by 25 bps to fight inflation surge

MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) hiked its policy interest rate by a quarter-point on Thursday, its first tightening move in more than two years, amid a war-driven inflation flare-up. The decision of the BSP’s policy-making Monetary Board brought the key rate that guides bank lending costs to 4.5 percent. The move was