BSP unleashes jumbo rate hike vs inflation

MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) raised its policy rate by half a percentage point to 5.5 percent on Thursday, delivering a bigger-than-expected increase as it stepped up its fight against stubbornly high inflation. The decision by the Monetary Board, the central bank’s top policymaking body, brought the overnight borrowing rate to