Rates Hiked in Indonesia and Philippines

The video discusses the economic challenges faced by Indonesia and the Philippines, focusing on their central banks' responses to inflation and currency issues. Bank Indonesia raised its key rate by 25 basis points to combat inflation and stabilize the rupia, which remains weak compared to other Asian currencies. The Philippines' central bank, BSP, increased its rate by 50 basis points to address a high inflation rate of 6.4%, which is above the target range. Despite these measures, the Philippine peso continues to weaken, indicating potential further rate hikes.

What challenges is the Philippine peso facing in the current economic climate?

What are the potential future actions that the Bank of the Philippine Islands (BSP) might take regarding interest rates?