BSP says economy could be insulated from Ukraine ‘risk-off episode’

March 14, 2022 - 2:07 PM
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Bangko Sentral ng Pilipinas headquarters in Manila. The central bank’s first quarter Consumer Expectations Survey (CES) for 2018 showed an index of 1.7 percent, down from the previous quarter’s 9.5 percent and year-ago’s 8.7 percent. (Reuters file photo)

 The Philippine economy’s limited economic exposure to Russia and Ukraine could insulate it from the “risk-off episode” that has gripped world markets, its central bank governor said on Monday.

Nevertheless, the central bank is monitoring the impact of global oil prices to domestic inflation “to calibrate appropriate actions,” Governor Benjamin Diokno said ahead of a policy meeting on March 24.

—Reporting by Karen Lema; Editing by Martin Petty