GlobalSource: BSP rate hike aimed at inflation, not peso

MANILA, Philippines — New York-based GlobalSource Partners noted that the Bangko Sentral ng Pilipinas should not see its recent rate hike as peso defense, stressing that the main goal of monetary policy is price stability. In a report, GlobalSource analyst Diwa Guinigundo said the peso’s recent recovery from record lows, following President Marcos’ pledge to defend