The Philippine central bank will keep the option of another cut in the rate it pays for funds in so-called special deposit accounts, Governor Amando Tetangco said three weeks before the next policy meeting. The peso fell.
For the Philippines’ $13 billion outsourcing industry, the peso’s surge has been compounded by a slide in larger rival India’s rupee.
"Najib is taking advantage of this environment when he can and try to use a bit more of those savings to make it a bit more targeted in providing buffers to some of the vulnerable households."
- Euben Paracuelles on Dec 04, 2014