Published at 04:28 (GMT) 04 Aug
BBG: BSP Deputy Governor Diwa Guinigundo commented along the sidelines of the Corporate Treasurer's 7th Annual Corporate Treasury and CFO summit in Manila, stating that the central bank is ready to deploy well-calibrated measures to keep the economy buoyant. The bank remains on lookout for risks from Fed liftoff whose magnitude and pace market could be underestimating. The BSP also do not see capital control as means to manage flows.
Separately, the BSP will also consider major reform in conducting monetary policy before next year. On current monetary policy, the deputy governor added that the current setting remains appropriate at this time and do not have to move in sync with the Fed.
On FX, USD/PHP rose to fresh 5-yr highs of 45.780 shortly after open and traded flat around 45.750 levels into noon with upward momentum to sustain and testing of the 45.800 resistance to take place in the near term. A break above will see pair extend further towards 45.950. PSEi little changed from opening levels, last seen near neutral. JP
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