Improved macroeconomic conditions, particularly on the fiscal front, as well as upbeat expectations for 2006 heightened investor confidence.
More Quotes from Amando Tetangco:
The creation of large liquid benchmarks will improve the trading turnover in the secondary market as this is expected to, among others, reduce the bid-offer spreads on bond prices. Participants will be able to get in or out of the benchmark issues more easily, making trading in Philippine bonds comparable to those in other emerging markets. This will be highly attractive to foreign investors in the market and bring additional business opportunities to the local financial community. This effort will complement earlier initiatives in capital market development, including the creation of the Fixed Income Exchange.Amando Tetangco
In addition, modest improvements in aggregate demand and bank lending amid the sustained slowdown in liquidity growth imply limited demand-side pressures on prices.
Amando Tetangco
In its assessment of the monetary policy stance, the monetary board noted that prevailing conditions continue to provide room for the central bank to keep its policy rates steady in the near term.
Amando Tetangco
The increase in the rate is intended to address possible second-round effects on consumer prices coming from supply shocks. We have to continue to assess the situation and decide on what will be the inflation expectation that could arise from possible higher wages and transport costs.
Amando Tetangco
The Central Bank is not going to let inflation get out of hand (in the Philippines).
Amando Tetangco
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Based on Topics: Confidence QuotesBased on Keywords: macroeconomic
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