BSP: Rate hikes' impact to be fully felt this year

THE full impact of aggressive policy tightening is expected to be felt this year and monetary authorities remain ready to adjust interest rates to ensure price stability, the Bangko Sentral ng Pilipinas (BSP) said.

In an open letter to President Ferdinand Marcos Jr., central bank Governor Eli Remolona Jr. said the «lagged effects of prior policy interest rate adjustments are expected to manifest fully in 2024.»

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