• The Philippines’ Financial Stability Coordination Council says it will closely monitor supply and prices of energy-related products as well as global interest rate as it identifies risks to the country’s financial system.
• “The volatility in the price and supply of energy-related products can affect economic activity, while a high-for-long global interest rate situation will weigh on debt servicing in general,” FSCC Chairman and Bangko Sentral ng Pilipinas Governor Eli Remolona says in a statement
• The council that includes the nation’s central bank may address those issues “in due course, if warranted,” he also says
• Council says global indicators of market volatility have remained low
• US inflation has come down but remains stubbornly high, suggesting a high-for-long policy rate environment