‘Philip­pines not in race to raise rates’

New Straits Times - - Business World -

MANILA: The Philip­pine cen­tral bank isn’t in a race to raise in­ter­est rates, said in­com­ing gov­er­nor Nestor Espe­nilla, de­spite econ­o­mists’ pre­dic­tions the coun­try will be the first in South­east Asia to do so. “Is it time to raise in­ter­est rates? We are re­view­ing the sit­u­a­tion right now. Are we be­hind the curve? I don’t think so.” Espe­nilla will take of­fice in July for a sixyear term. Bangko Sen­tral ng Pilip­inas will next meet on June 22 to de­cide on pol­icy, the last un­der out­go­ing Gov­er­nor Amando Te­tangco.

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