{"id":25416,"date":"2014-09-11T21:05:29","date_gmt":"2014-09-11T13:05:29","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=25416"},"modified":"2014-09-11T21:05:29","modified_gmt":"2014-09-11T13:05:29","slug":"philippines-central-bank-raises-overnight-policy-rates-to-stifle-inflation","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2014\/09\/11\/philippines-central-bank-raises-overnight-policy-rates-to-stifle-inflation\/","title":{"rendered":"Philippines central bank raises overnight policy rates to stifle inflation"},"content":{"rendered":"<figure id=\"attachment_11887\" aria-describedby=\"caption-attachment-11887\" style=\"width: 1000px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2014\/05\/pesos-money.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-11887\" src=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2014\/05\/pesos-money.jpg\" alt=\"ShutterStock image\" width=\"1000\" height=\"649\" srcset=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2014\/05\/pesos-money.jpg 1000w, https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2014\/05\/pesos-money-300x195.jpg 300w, https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2014\/05\/pesos-money-768x498.jpg 768w, https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2014\/05\/pesos-money-20x13.jpg 20w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/a><figcaption id=\"caption-attachment-11887\" class=\"wp-caption-text\">ShutterStock image<\/figcaption><\/figure>\n<p>MANILA,\u00a0Philippines\u2014The\u00a0Philippine\u00a0central bank raised key interest rates by a quarter percentage point Thursday for the second time in six weeks to stifle inflation.<\/p>\n<p>The bank\u2019s Monetary Board raised the rate it charges commercial banks for overnight borrowing to 6.0 per cent and the rate it pays lenders for overnight deposits to 4 per cent.<\/p>\n<p>Deputy Governor Diwa Guinigundo said the decision was made because forecasts put next year\u2019s inflation rate at 3.8 per cent, close to the upper end of the bank\u2019s 2-4 per cent target range. The bank forecasts an inflation rate of 4.5 per cent this year.<\/p>\n<p>Possible increases in food prices due to tight domestic supply, a pending petition for utility rate increases and potential power shortages could push inflation higher, he added.<\/p>\n<p>Guinigundo also said the rate increase is a \u201cpre-emptive move\u201d in the context of the U.S. looking like it will tighten its currently loose monetary policy.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>MANILA,\u00a0Philippines\u2014The\u00a0Philippine\u00a0central bank raised key interest rates by a quarter percentage point Thursday for the second time in six weeks to &hellip;<\/p>\n","protected":false},"author":44,"featured_media":11887,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19,95],"tags":[],"class_list":["post-25416","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","category-news-ph","mauthors-the-associated-press"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/25416","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=25416"}],"version-history":[{"count":0,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/25416\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/11887"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=25416"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=25416"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=25416"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}