The Bangko Sentral ng Pilipinas (BSP) chief does not expect to react to the expected rate hikes from the US Federal Reserve in the near-term as monetary policy decisions will be based on domestic developments. READ:
The Bangko Sentral ng Pilipinas chief does not expect to react to the expected rate hikes from the US Federal Reserve in the near-term as monetary policy decisions will be based on domestic developments.
He said the central bank uses its flexible exchange rate system and external buffers to deal with short term volatility. The Philippine external position and the peso could weaken as investors price in this Fed rate hike, analysts said. He said the BSP will avoid unwinding policy measures either too early or too late so that it could sustain economic recovery and avoid price and financial stability threats.
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