India, Oct. 22 -- The Philippine central bank lifted its key interest rates by a larger-than-expected 50 basis points on Thursday to curb second-round effects and to anchor inflation expectations.
The Monetary Board of the Bangko Sentral ng Pilipinas decided to raise the reverse repurchase rate by 50 basis points to 5.50 percent. Markets were expecting a quarter-point hike.
The interest rates on the overnight deposit and lending facilities were adjusted to 5.00 percent and 6.00 percent, respectively.
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