‘Philippines not in race to raise rates’
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.