• The Philippine central bank is trying to rein in speculation in the currency market, central bank Governor Eli Remolona said, adding that it remains orderly without any signs of stress yet.
  • Bangko Sentral ng Pilipinas not intervening in FX market everyday, Remolona tells reporters at an event in Manila on Wednesday
  • If BSP does intervene, “it’s very modest,” he says
  • “We want those who really need dollars to get the dollars at reasonable price,” BSP chief says
  • Reiterates that Bangko Sentral ng Pilipinas is likely to cut its key interest rate this year by 25bps or 50bps depending on data
  • One rate cut can happen in 3Q, the other in 4Q: Remolona