Philippine market volatility a matter of external factors, central bank chief says

06/13/2013 | (China)

Global risk rather than any substantive local factor has been behind the big selloff in Philippine financial markets, central bank Governor Amando Tetangco Jr. says. However, he said, "we continue to be watchful of market conduct, including price movements in the foreign-exchange market, to ensure these are not excessive and that these remain consistent with overall price and financial stability objective."

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