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Philippine central bank eyes emergency meeting to tame prices

Governor vows 'immediate strong action' to stem sliding peso and inflation

Bangko Sentral ng Pilipinas (Central Bank of the Philippines)  said it will take "immediate strong action" to fight against inflation and the weakening peso.   © Reuters

MANILA -- The Philippine central bank is considering to hold an extraordinary policy meeting this month to fight rising prices and the falling peso.

Gov. Nestor Espenilla of Bangko Sentral ng Pilipinas on Friday said the bank "will take immediate strong action" using its policy toolkit to respond to the emerging inflation threat. Follow-through actions, he said, will also address the volatile foreign exchange market.

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