BSP says inflation under control despite weak peso

Philippine's central bank governor Rafael Buenaventura has said he expects the country's consumer price index to show a "manageable" rise of 3.0 to 3.5 percent year-on-year in the first two months of the year, despite a weaker peso.

"It looks like the inflation rate for the month of January is very much still under control. We started with a low base of 3.1 percent in 2003 so the expectation is we will probably see the inflation rate in the first two months in the range of about 3.0 to 3.5

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