A senior lawmaker has filed a House resolution “strongly urging” the Bangko Sentral ng Pilipinas to retain the existing limits on credit card charges to help Filipino consumers cope with inflation, which has hit a 4-year high of 6.9 percent in September.
The BSP is set to review all three thresholds next month. In three prior semi-annual reviews, the banking regulator decided to keep the caps “Salaried Filipinos are struggling to make ends meet,” Campos said. “They are increasingly relying on their credit cards to make essential purchases and to pay bills, including the tuition fees of their children.”
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