The central bank’s balancing act

THE central bank has lately been paying particular attention to public concerns over the peso-dollar exchange rate, with the governor issuing statements obviously aimed at soothing any perception that the recent weakening of the peso is a bad thing.

The latest patter Bangko Sentral ng Pilipinas Governor Nestor Espenilla Jr. gave business reporters on Friday ruled out an economic calamity: “Definitely, we are not in a foreign exchange crisis.”