GlobalSource: BSP rate hike aimed at inflation, not peso
MANILA, Philippines — New York-based GlobalSource Partners noted that the Bangko Sentral ng Pilipinas should not see its recent rate hike as peso defense, stressing that the main goal of monetary policy is price stability. In a report, GlobalSource analyst Diwa Guinigundo said the peso’s recent recovery from record lows, following President Marcos’ pledge to defend the currency “as hard as we can,” showed that exchange rates respond to policy signals and shifting market expectations, not just interest rate adjustments. READ: BSP signals rate cuts still distant amid high inflation Guinigundo, a former BSP deputy governor, said it was therefore “misleading” to […]...Keep on reading: GlobalSource: BSP rate hike aimed at inflation, not peso
MANILA, Philippines — New York-based GlobalSource Partners noted that the Bangko Sentral ng Pilipinas should not see its recent rate hike as peso defense, stressing that the main goal of monetary policy is price stability. In a report, GlobalSource analyst Diwa Guinigundo said the peso’s recent recovery from record lows, following President Marcos’ pledge to defend the currency “as hard as we can,” showed that exchange rates respond to policy signals and shifting market expectations, not just interest rate adjustments. READ: BSP signals rate cuts still distant amid high inflation Guinigundo, a former BSP deputy governor, said it was therefore “misleading” to […]...
Keep on reading: GlobalSource: BSP rate hike aimed at inflation, not peso
Keep on reading: GlobalSource: BSP rate hike aimed at inflation, not peso
What's Your Reaction?
