By Lilian KarununganThe Philippine central bank is prepared to raise interest rates if it sees signs the economy is growing too fast, while tolerating a weaker currency for now, according to Governor Nestor Espenilla. “When you do start jacking up interest rates is when we see signs of overheating in the economy,” he said in an interview in Singapore on Tuesday. Economic growth in the Philippines, already among the world’s highest, probably accelerated in the second quarter, officials said before data due Thursday. The budget shortfall is widening and the peso has dropped 3.2 percent against the dollar this year, the worst performance in Asia. Most economists surveyed by Bloomberg predict the central bank will raise rates by at least 25 basis points this year.

Source: The Standard August 16, 2017 13:07 UTC