MANILA: The central bank is committed to maintaining a market-determined foreign exchange rate and an accommodative monetary policy to help the economy, therefore a weakening of the Philippine peso is not a concern, its governor said on Monday. The Philippines’ central bank Governor Benjamin Diokno told the ANC television channel that the possibility of rate hikes by the US Federal Reserve would not be a problem due to the Southeast Asian country’s considerable dollar reserves.
(Neil Jerome Morales contributed reporting, and Ed Davies edited the piece.)
Reuters is the source of this information./n
