BSP, other central banks expected to delay easing

EXCHANGE rate volatility, stable inflation and uncertainty over the US Federal Reserve rate cuts will likely keep emerging market central banks from lowering interest rates for now, Moody's said.Despite having signaled an easing as early as next month, the Bangko Sentral ng Pilipinas will be among those to 'hold for longer,' the debt watcher said in a report issued last week.

As for the impact on the peso, which fell to P58:$1 territory in May and continues to trade at that level, Remolona has said that the BSP has enough resources to address any volatility.'In the Philippines, inflation is decreasing mainly because of a sharp decrease in the electricity charge in June although this is partially offset by a toll fee hike and currency depreciation,' Moody's noted.It expects inflation to average 3.8 percent this year and slow further to 3.

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