INTEREST rate hikes will have to be carefully considered in the wake of President Ferdinand 'Bongbong' Marcos Jr.'s directive to defend the peso, Socioeconomic Planning Secretary Arsenio Balisacan said on Wednesday.
INTEREST rate hikes will have to be carefully considered in the wake of President Ferdinand 'Bongbong' Marcos Jr.'s directive to defend the peso, Socioeconomic Planning Secretary Arsenio Balisacan said on Wednesday.
'[O]ur interest rates is also one of our tools but we also have to be careful about that because when you increase interest rates, you also hurt the prospects for economic growth,' he said.'[I]t is kind of a balancing act and there is no easy solution, so we have to watch for any sharp increases in the exchange rate.
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