Emerging markets - Philippine peso hits multi-year lows ahead of central bank meet as Asian stocks fall

MANILA, June 20 (Reuters): The Philippine peso on Monday fell to its lowest in over three-and-a-half-years as the country's central bank's views on consecutive rate hikes this year fell short of expectations, while other Asian currencies traded mixed amid recession fears.

The peso led losses with its 0.5% drop that dragged the currency to its lowest since October 2018. Felipe Medalla, the incoming Bangko Sentral ng Pilipinas (BSP) governor, called for at least two rate hikes this year and left the door open for more increases if high inflation persisted.