The Bangko Sentral ng Pilipinas raises borrowing rates by a quarter point.br br This brings the key interest rate to 6.25 percent, the highest since November 2008, effective tomorrow.br br BSP Chief Felipe Medalla said further monetary policy action was needed to address price pressures despite inflation slightly easing to 8.6 percent last month.br br Joining us now is Shan Saeed, Chief Economist of Juwai IQI.