THE peso's current weakness is expected to be temporary, a Bangko Sentral ng Pilipinas (BSP) official said, and a higher balance of payments (BoP) surplus this year is expected to be a stabilizing factor.
THE peso's current weakness is expected to be temporary, a Bangko Sentral ng Pilipinas official said, and a higher balance of payments surplus this year is expected to be a stabilizing factor.'We believe that this is only temporary... the peso will be largely influenced by the foreign exchange supply and demand,' central bank Senior Assistant Governor Iluminada Sicat said in a briefing on Friday.'We are anticipating our balance of payment position for 2024 to be at a surplus ...
on Tuesday said a third quarter easing was still possible. He said the peso would only become a concern 'if it moves in a very sharp way so that it begins to cause a pass-through effect on inflation.'The BSP's policymaking Monetary Board on Thursday raised the expected BoP surplus for this year to $1.6 billion from $700 million. The forecast for 2025 was also revised to a $1.5-billion surplus from a $500-million deficit.
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