Philippine exchange chief backs rate cuts to spur IPOs

MANILA -- The chief of the Philippines' bourse is pushing the country's central bank for an interest rate cut in order to revive a sluggish market, as a dearth of initial public offerings underscores the need for a boost in investor sentiment.

Ramon Monzon, the president and CEO of the Philippine Stock Exchange (PSE), said in an exclusive interview with Nikkei Asia that cutting the key benchmark rate is the key to generate excitement among investors, noting that "there's only going to be one market catalyst."