BSP jolts markets with jumbo rate hike

MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) delivered an outsized half-point interest rate hike on Thursday, taking a more aggressive stance against stubbornly high inflation. The Monetary Board, the BSP’s top policymaking body, set the key rate at 5.50 percent. READ: Poll: BSP seen raising rates again Only two of 20 economists polled