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BSP lifts rate to 4.5% amid oil, fertilizer inflation

4/24/2026

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Summary

Story summary

Bangko Sentral ng Pilipinas (BSP) raised its rate 25 basis points to 4.5% on April 23, 2026.
The hike targets inflation from oil and fertilizer price spikes after March inflation rose to 4.1%, above the BSP’s 3.1-3.9% forecast and 2-4% target range.
Governor Eli M. Remolona Jr. said the move avoided a 50-basis-point increase, with the peso falling 0.5% to 60.40 per dollar and the stock index staying stable.

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Story summary

Bangko Sentral ng Pilipinas (BSP) raised its rate 25 basis points to 4.5% on April 23, 2026.
The hike targets inflation from oil and fertilizer price spikes after March inflation rose to 4.1%, above the BSP’s 3.1-3.9% forecast and 2-4% target range.
Governor Eli M. Remolona Jr. said the move avoided a 50-basis-point increase, with the peso falling 0.5% to 60.40 per dollar and the stock index staying stable.