Philippines

Philippine central bank's policy dilemma lies in peso strength vs economic risks

  • Philippine central bank holds key rate at 6.50%, indicating rate cut delays to support a weakening peso

  • Potential rate hikes to curb upside inflation risks, stable reserves and growing remittances could bolster the currency

  • Trade deficit weaker than IMF's norm coupled with delayed US rate cuts may put further pressure on the peso

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February 23rd, 2024
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