Philippine central bank raises key rate to 5.5% with bigger-than-expected hike

The Bangko Sentral ng Pilipinas raised its target reverse repurchase rate by half a point to 5.5% on Oct. 22, Bloomberg reported in The Straits Times. September inflation was 7.2% from a year earlier, and the peso hit a historic low that day. The bank left open further action if needed, though analyst Miguel Chanco said another hike in December was not certain.