BSP has room to raise rates without contracting the economy -governor

The Bangko Sentral ng Pilipinas (BSP) has room to resume hiking interest rates without contracting the economy, its governor said on Friday.

The Philippines has ample foreign exchange reserves to weather external shocks, Bangko Sentral ng Pilipinas Governor Eli M. Remolona told CNBC, a day after monetary authorities kept benchmark rates unchanged for the third straight meeting. — Reuters