BSP policy to consider shift in market focus

The Philippine central bank said its next monetary policy meeting will take into account the shift in global market behavior from that of caution toward a US interest rate hike to that of concern over the speed of normalization in US rates.

Bangko Sentral ng Pilipinas (BSP) Governor Amando Tetangco Jr., said in a text message to reporters on Thursday: “With the improvements in some of the economic indicators that the Fed is looking at, the market seems to now be shifting its focus from a lift-off to the speed of normalization.”