No ‘one-for-one’ policy rate hikes

“One-for-one” interest rate hikes shouldn’t be expected if the US Federal Reserve decides to accelerate its policy tightening, the chief of the Bangko Sentral ng Pilipinas (BSP) said on Monday.

Noting that “people seem to want us to follow,” central bank Governor Nestor Espenilla Jr. told reporters that the current Fed policy stance was “much looser” compared to the BSP’s.