The economy grew 6.7% last year, according to data released by the Philippine Statistics Authority. “A prompt start to rate tightening would help preserve the longevity of the growth cycle and mitigate” risks including price pressure from higher taxes and credit growth, they said. Central bank governor Nestor Espenilla has so far taken a cautious approach on tightening monetary policy. “The growth is becoming a lot more sustainable than people expected,” said Alice Fulwood, an economist at UBS Group AG in Singapore. We would be looking at inflation and balance of trade, if they deteriorate that raises a question mark on the sustainability of growth.”

Source: Bangkok Post January 23, 2018 07:07 UTC