MANILA: The Philippine central bank is closely monitoring the peso “for possible spillover impact on inflation amid the recent global banking stresses” after the currency slid to more than four-month lows this week.
Still, the Bangko Sentral ng Pilipinas (BSP) believes that “a freely moving exchange rate is an essential price signal” that allows the economy to respond to global developments, deputy governor Chuchi Fonacier told an annual assembly of currency traders.
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