Philippines's Tetangco warns on inflation risks

Prospects of further rate cuts in the Philippines dimmed after Amando Tetangco, the governor of the central bank, highlighted risks to the inflation outlook.

Though inflation was expected to remain on target this year, Tetangco noted two factors that could lead price growth exceeding the 5% upper limit of the central bank's range.

The governor said strong foreign exchange inflows in 2008 could lead to an unmanageable level of domestic liquidity growth. The central bank had to "ensure that the

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