Economics
Philippine Central Bank Pledges `Strong' Action on Inflation
- Espenilla revives 1997 Asian crisis hedging tool for companies
- Central bank to deal with speculative activity in currency
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Philippine central bank Governor Nestor Espenilla flagged another interest-rate hike to curb inflation and said an out-of-cycle policy meeting is an option, while warning he will go after currency speculators.
“The Bangko Sentral ng Pilipinas will take strong immediate action using the full range of instruments in its toolkit in order to respond to the emerging threats to inflation and inflation expectations,” Espenilla said in a mobile-phone message reply to questions Friday.