Philippine interest rates to fall by year end

Philippine central bank governor Rafael Buenaventura said on Thursday the bank planned to lower its key overnight rates before the end of 2000 given signs that inflation and the peso had begun to stabilise.He said the bank had not intervened in the spot market for the past week since there had been equilibrium in exchange rates. "Definitely, we are going to bring it (interest rates) down before the end of the year, because it looks like inflation also will continue to be subdued," Buenaventur