Back in Nov. 15, the BSP announced that it decided to maintain the limits on credit card transactions, citing the “reasonableness” of the prevailing fees for these financial services.
Two days later, the Monetary Board, the central bank’s seven-person policymaking body, announced a rate hike of 0.75 percentage point, bringing it to 5 percent which took effect starting Nov.18.Back in October, the Philippines’ consumer price index climbed 7.7 percent year-on-year, the fastest rise since December 2008, driven by price gains in key commodity groups, specifically food and nonalcoholic beverages.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: