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Keep close watch on falling peso, rising prices

BANGKO Sentral ng Pilipinas (BSP) Governor Amando M. Tetangco Jr. said Monday he sees no need to adjust Philippine interest rates in the face of the expected rise in US rates sometime this month. But the BSP is closely monitoring the situation, he assured, and is ready to take any needed action at its policy meeting on March 23.

The Philippine peso climbed to the highest in almost eight months as the incoming administration of Rodrigo Duterte assured investors he will continue the pro-growth policies of outgoing President Benigno Aquino.

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