Skip to main content

Advertisement

Advertisement

Business

Philippine central bank governor: not worried on Fed hike, weaker peso

A weakening in the Philippine peso is not a concern, with the central bank committed to retain a market-determined foreign exchange rate and an accommodative monetary policy to support the economy, its governor said on Monday.

Philippine central bank governor: not worried on Fed hike, weaker peso

FILE PHOTO: A man counts a wad of Philippine Peso bills he received from a relative working abroad at a money remittance center in Makati City, Metro Manila, Philippines September 19, 2018. REUTERS/Eloisa Lopez/File Photo

MANILA: A weakening in the Philippine peso is not a concern, with the central bank committed to retain a market-determined foreign exchange rate and an accommodative monetary policy to support the economy, its governor said on Monday.

The potential for rate hikes by the U.S. Federal Reserve would also not pose a problem given the Southeast Asian country's ample dollar reserves, Philippines' central bank Governor Benjamin Diokno told ANC news channel.

(Reporting by Neil Jerome Morales; Editing by Ed Davies)

Source: Reuters

Advertisement

Also worth reading

Advertisement