Philippines monitoring developments, looking at market intervention —NEDA chief

October 18, 2022 - 6:59 PM
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PCC chair Arsenio Balisacan. FILE PHOTO FROM WWW. NEDA.GOV.PH

The Philippines is monitoring external developments to see how authorities can intervene in financial markets to address risks like the depreciation of its peso PHP= currency, its economic planning chief said on Tuesday.

The government can deploy monetary tools like tweaks in the interest rate and market intervention to tame the peso’s depreciation, Economic Planning Secretary Arsenio Balisacan told a news conference after a meeting between President Ferdinand Marcos Jr and his economic team, where topics of inflation and exchange rate was discussed.

—Reporting by Karen Lema; Editing by Martin Petty

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