Philippine Peso continue to increase

Posted By on February 10, 2012

The Philippine peso headed for a fifth weekly rally after policy makers said growth in the Southeast Asian economy will accelerate. Government bonds rose after inflation cooled.

An increase of between 5 percent and 7 percent in the nation’s gross domestic product is possible in the three months ending March, Economic Planning Secretary Cayetano Paderanga said on Feb. 8. That would compare with growth of 4.6 percent in the year-earlier period. The government’s 10-year bonds were set for a third consecutive week of gains after official data on Feb. 7 showed consumer prices rose the least in 13 months in January, climbing 3.9 percent. [read more…]