Rising interest rates and floodwaters

The Manila Times 19 h Philippines

IN the past week, we experienced two kinds of rising pressure: interest rates and floodwaters. The Bangko Sentral ng Pilipinas (BSP) raised its benchmark overnight reverse repurchase rate to 5 percent for the third straight meeting, taking preemptive action against inflation risks associated with a severe El Niño event. At the same time, extreme southwest monsoon rains (habagat) have caused

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