MANILA — The Philippine peso’s PHP= weakness against the U.S. dollar will unlikely trigger a central bank rate hike, Finance Minister Ralph Recto said according to Bloomberg report.
Recto sits as the government’s sole representative to the central bank’s seven-person monetary board, which will next set rates on May 16. Recto did not immediately respond to a Reuters request for comment.
— Reporting by Neil Jerome Morales; Editing by Martin Petty