MODEL PORTFOLIO
THE GIST
NEWS AND FEATURES
Global Philippines Fine Living
INSIGHTS
INVESTMENT STRATEGY
Economy Stocks Bonds Currencies
THE BASICS
Investment Tips Explainers Retirement
WEBINARS
2024 Mid-Year Economi Briefing, economic growth in the Philippines
2024 Mid-Year Economic Briefing: Navigating the Easing Cycle
June 21, 2024
Investing with Love
Investing with Love: A Mother’s Guide to Putting Money to Work
May 15, 2024
retirement-ss-3
Investor Series: An Introduction to Estate Planning
September 1, 2023
View All Webinars
DOWNLOADS
investment-ss-3
Reports
Policy rate views: Fed expected to do baby steps
DOWNLOAD
economy-ss-9
Economic Updates
Inflation Update: Faster but full-year average within target
DOWNLOAD
948 x 535 px AdobeStock_433552847
Reports
Monthly Economic Update: Waiting on Jay Powell
DOWNLOAD
View all Reports
Metrobank.com.ph How To Sign Up
Follow us on our platforms.

How may we help you?

TOP SEARCHES
  • Where to put my investments
  • Reports about the pandemic and economy
  • Metrobank
  • Webinars
  • Economy
TRENDING ARTICLES
  • Investing for Beginners: Following your PATH
  • On government debt thresholds: How much is too much?
  • Philippines Stock Market Outlook for 2022
  • Deficit spending remains unabated

Login

Access Exclusive Content
Login to Wealth Manager
Visit us at metrobank.com.ph How To Sign Up
Access Exclusive Content Login to Wealth Manager
Search
MODEL PORTFOLIO THE GIST
NEWS AND FEATURES
Global Philippines Fine Living
INSIGHTS
INVESTMENT STRATEGY
Economy Stocks Bonds Currencies
THE BASICS
Investment Tips Explainers Retirement
WEBINARS
2024 Mid-Year Economi Briefing, economic growth in the Philippines
2024 Mid-Year Economic Briefing: Navigating the Easing Cycle
June 21, 2024
Investing with Love
Investing with Love: A Mother’s Guide to Putting Money to Work
May 15, 2024
retirement-ss-3
Investor Series: An Introduction to Estate Planning
September 1, 2023
View All Webinars
DOWNLOADS
investment-ss-3
Reports
Policy rate views: Fed expected to do baby steps
September 18, 2025 DOWNLOAD
economy-ss-9
Economic Updates
Inflation Update: Faster but full-year average within target
September 5, 2025 DOWNLOAD
948 x 535 px AdobeStock_433552847
Reports
Monthly Economic Update: Waiting on Jay Powell
September 2, 2025 DOWNLOAD
View all Reports
Economy 2 MIN READ

Philippines’ Marcos ready to defend peso, fight inflation

October 18, 2022By Reuters
Related Articles
BRIEF-KKR Leads Series C Round In Philippine B2B Platform Growsari With $45 Million Investment January 26, 2022 Russian rouble firms past 70 vs euro, stocks down May 12, 2022 EMERGING MARKETS-Indonesian rupiah, S.Korean won post tepid gains in Asia April 21, 2022

MANILA, Oct 18 (Reuters) – Philippine President Ferdinand Marcos Jr said on Tuesday his government was prepared to defend the peso, given that continued weakness in the currency could accelerate inflation that is already at four-year highs.

“We may have to defend the peso in the coming months, but the overall forecast is that we are still doing better than other countries in terms of inflation,” Marcos said on Twitter after meeting with his economic ministers.

Marcos said the government will continue to use interest rates to combat inflation, which is on track to breach a 2%-4% target for the year due in part to higher prices of imported commodities like fuel. Year-to-date inflation was at 5.1% in September, while year-on-year inflation stood at 6.9%.

“Number one priority is still inflation. We will continue to use interest rates to mitigate the effects,” he said.

The central bank has so far raised key policy rates by 225 basis points (bps) this year, including an off-cycle 75 bps hike in July, to tame inflation and slow the peso’s decline. Bangko Sentral ng Pilipinas has two more meetings left before the end of the year.

Central Bank Governor Felipe Medalla has said the monetary authority was active in the forex market and selling strategically to prevent “excessive” forex movements.

The peso, like other emerging market currencies, has hit multi-year lows this year as aggressive monetary tightening by the US Federal Reserve strengthened the greenback by boosting its safe-haven appeal. The peso, the worst-performing Southeast Asian currency, has lost 13.5% against the US. dollar year-to-date.

Marcos’ statement was consistent with recent signals from the central bank about a possible large hike in policy rates and increased intervention in the foreign exchange market, said Michael Ricafort, an economist at Rizal Commercial Banking Corp. in Manila.

“These measures help stabilise both the peso exchange rate and overall inflation, as well as inflation expectations,” Ricafort said.

(Reporting by Enrico dela Cruz, Karen Lema and Neil Jerome Morales; Editing by Martin Petty and Kanupriya Kapoor)

This article originally appeared on reuters.com

Read More Articles About:
Worldwide News Philippine News Rates & Bonds Equities Economy Investment Tips Fine Living

You are leaving Metrobank Wealth Insights

Please be aware that the external site policies may differ from our website Terms And Conditions and Privacy Policy. The next site will be opened in a new browser window or tab.

Cancel Proceed
Get in Touch

For inquiries, please call our Metrobank Contact Center at (02) 88-700-700 (domestic toll-free 1-800-1888-5775) or send an e-mail to customercare@metrobank.com.ph

Metrobank is regulated by the Bangko Sentral ng Pilipinas
Website: https://www.bsp.gov.ph

Quick Links
The Gist Webinars Wealth Manager Explainers
Markets
Currencies Rates & Bonds Equities Economy
Wealth
Investment Tips Fine Living Retirement
Portfolio Picks
Bonds Stocks
Others
Contact Us Privacy Statement Terms of Use
© 2025 Metrobank. All rights reserved.

Access this content:

If you are an existing investor, log in first to your Metrobank Wealth Manager account. ​

If you wish to start your wealth journey with us, click the “How To Sign Up” button. ​

Login HOW TO SIGN UP