THE Monetary Board has raised the interest rate on the Bangko Sentral ng Pilipinas (BSP)’s overnight reverse repurchase (RRP) facility by 25 basis points to 4.75 percent, effective Friday, Nov. 16, 2018. The interest rates on the overnight lending and deposit facilities were raised accordingly. The Monetary Board decided to raise the policy rate by 25 basis points given the upside risks to the inflation outlook and given that inflation expectations have remained elevated as supply-side and possible wage pressures continue to drive price developments. The Monetary Board believes that prospects for the domestic economy remain generally favorable. (PR)