SLOWER rate cuts by the US Federal Reserve (Fed) have strengthened the dollar and could pose risks to Philippine financial markets, the World Bank warned.
SLOWER rate cuts by the US Fed eral Reserve have strengthened the dollar and could pose risks to Philippine financial markets, the World Bank warned.'Concerns over the pace of US monetary easing have increased financial market volatility,' the World Bank said in its latest Philippines Monthly Economic Developments report.The World Bank noted that the potential for slower Fed rate hikes had affected the Philippine Stock Exchange index , which saw its gains slip from 4.
told The Manila Times in a text message that 'as a matter of policy, we don't comment on future movements of the peso.'Earlier this year, the peso fell amid a strong dollar and signals from the central bank that it might start cutting key interest rates ahead of the Fed, making Philippine assets less appealing.BSP officials have said that the decision to act before the Fed was data-driven.
Over Fed Cuts Could Lead To Volatility
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