World Economy

Philippine Central Bank Tightens Policy Again as Inflation, Currency Pressures Mount

The Philippine central bank lifted its benchmark interest rate for a fourth consecutive meeting, moving to combat rising inflation and stabilize the peso amid mounting economic headwinds. The decision reflects intensifying price pressures across the archipelago, where a severe El Niño weather pattern is threatening agricultural output and pushing costs higher. The peso has declined to record lows against the dollar, prompting policymakers to act decisively on monetary tightening. The consecutive rate increases mark an aggressive stance by the Bangko Sentral ng Pilipinas as it races to restore price stability.