BSP Intervention Remains Minimal — Remolona - BusinessWorld Online

BSP faces ‘tremendous’ pressure to defend peso

MANILA, Philippines — Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona Jr. said the central bank was ignoring the “tremendous” pressure to defend the peso, saying that present economic realities do not warrant a forceful intervention. Speaking at an event on Thursday, Remolona said the central bank was not alarmed by the prospect of the […]...Keep on reading: BSP faces ‘tremendous’ pressure to defend peso

BSP intervention remains minimal — Remolona - BusinessWorld Online

THE PESO’S recent slide against the dollar puts pressure on the Bangko Sentral ng Pilipinas (BSP) to intervene to prevent inflationary risks, but its chief reiterated that they remain present in the market only to smoothen out sharp swings. “There’s tremendous pressure to defend the peso and we’ve resisted that pressure,” BSP Governor Eli M. Remolona, Jr. told reporters on the sidelines of an event on Thursday. On Wednesday, the peso plunged to …

BSP won't defend peso despite 'tremendous pressure', says governor

MANILA — The Philippine central bank will not defend the peso despite “tremendous pressure” to do so, its governor said on Thursday. “We ignore it,” Bangko Sentral ng Pilipinas Governor Eli Remolona told reporters. “The economics does not warrant defending the peso.” —Reporting by Karen Lema; Writing by Mikhail Flores; Editing by Martin Petty The post BSP won’t defend peso despite ‘tremendous pressure’, says governor appeared first on Interaksyo…