Philippine Markets: 24 March 2011

24 March 2011

USD/PhP: 43.42 + 0.05 PSEi: 3841.54 - 13.98
USD/JPY: 80.903 PFINC: 863.10 - 0.75
EUR/USD: 1.4080 BDO: 49.85 - 0.15
GBP/USD: 1.6230 BPI: 53.70 unch
PDSTF3M: 1.4985 MBT: 62.10 + 0.1
Prices as of 12:00pm Source: Bloomberg, Reuters


Philippine Central Bank Raises Key Rate to 4.25% From 4.00%

The Philippine central bank raised its benchmark interest rate
to 4.25 percent, it said in Manila today. The decision to boost
borrowing costs by 0.25 percentage point from a record low was
expected by 10 of 15 economists surveyed by Bloomberg News.


BDO UNIBANK INC.


Jonathan Ravelas
Chief Market Strategist
(632) 858-3145

Rhys Cruz
Junior Researcher
(632) 858-3001