Philippine Bonds Decline on Inflation Concern; Peso Rebounds
This article is for subscribers only.
Philippine 20-year bonds fell, halting three days of gains, after the central bank said inflation risks remain. The peso rebounded from a one-month low.
Possible increases in commodity prices still pose a threat to consumer prices, Bangko Sentral ng Pilipinas Governor Amando Tetangco said in an e-mail this week. Government spending rose 13 percent in the first quarter from a year earlier to 394.9 billion pesos ($9.3 billion), according to an April 25 report. Inflation reached 3 percent in April, accelerating from a 30-month low in March, official data show.