A member of the Bangko Sentral ng Pilipinas Monetary Board is calling for increased foreign exchange hedging to protect the economy from external shocks. The warning comes as conflict in Iran threatens Philippine macroeconomic stability.
- BSP Monetary Board member Walter Wassmer calls for increased FX hedging
- Geopolitical conflict in Iran identified as a primary risk driver
- Warning of higher inflation and lower-than-target economic growth
- Concerns raised over a widening current account deficit
- Potential risks to the stability of overseas remittances
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