BSP expects continued volatility in global markets

popular

Starring Dennis Roldan

A ghost story

Over 60,000 yearly apply for immigrant, fiancé, fiancée, spouse visas—US Embassy

Binay in panic mode, says Cayetano

Canadian warplanes launch first airstrike in Iraq

Obama switches planes because of mechanical issue

'Nightcrawler' scares up Halloween box office, Kidman flops

Adamson says prof was dismissed for ‘gross misconduct, unprofessional behavior’

videos

Thousandfold ‘miracle’: How the Sisters of Mary provide free education to the poorest kids

Sueselbeck leaves, says sorry for ‘not being aware of political part’ of Laude slay

Filipino families honor their dead

Assistant Ombudsman explains why Revilla’s wealth must be seized

Binay allies ‘gatecrash’ Senate probe

MANILA, Philippines–Monetary officials remain on guard against any pressure on the peso as financial markets feel the shockwaves from conflicting moves by central banks in advanced economies.

These actions all aim to strengthen advanced countries, which are also among the Philippines’ biggest trading partners. But in the short term, Bangko Sentral ng Pilipinas (BSP) Governor Amando M. Tetangco Jr. said the divergence of policies might hurt smaller markets.

“We will continue to watch the actions of policymakers in the advanced economies as their divergence could create near-term volatility in our own domestic financial markets,” he told reporters on Monday.

His comment followed an unexpected move last week by the Bank of Japan to expand its massive stimulus spending to further spur Asia’s second-largest economy. The week prior, the US Federal Reserve announced a halt to its own massive stimulus program—a precursor to an eventual move to raise interest rates.

Divergence in policy directions among advanced economies is a sign of imbalance in the global recovery from the 2008 global financial crisis that started in the United States. Europe, for instance, is still struggling with high unemployment and massive levels of government debt.

• Tags:




• Amando M. Tetangco Jr.




• Bangko Sentral ng Pilipinas (BSP)




• currencies




• Peso

Related Stories:

• Australia investigates ‘paedophile’ father in Thai baby scandal


• Bangladesh ferry owner faces charges in sinking


• Bangladesh ferry owner faces charges in sinking


• Bangladesh ferry owner faces charges in sinking


• Bangladesh ferry owner faces charges in sinking


• Bangladesh ferry owner faces charges in sinking


• Bangladesh ferry owner faces charges in sinking


• Bangladesh ferry owner faces charges in sinking

Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Disclaimer: The comments uploaded on this site do not necessarily represent or reflect the views of management and owner of INQUIRER.net. We reserve the right to exclude comments that we deem to be inconsistent with our editorial standards.

To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.

Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:

c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City,Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94

seo tools