Peso Stability Despite Challenging Trade Prospects

BMI View: Philippine exports will continue to face stronger headwinds stemming from cooling regional demand, which will weigh on economic growth. That said, the country's current account should remain in surplus, owing to lacklustre import growth, strong services income from the business process outsourcing (BPO) industry and continued robust remittance inflows, which will in turn provide a measure of support for the Philippine peso amid current broad US dollar strength.In line with what...

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