MANILA: The Philippine central bank is moving toward a "less managed” exchange-rate framework, Governor Eli Remolona said, as cooling inflation eases pressure on policymakers to curb the peso’s weakness.
"We think intervention should only happen in times of stress,” Remolona told a forum on Thursday in Manila, acknowledging that the Bangko Sentral ng Pilipinas has been "intervening a bit too much” in the FX market.
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