MANILA: The Philippines will continue to use interest rates to mitigate against inflation and may step in to defend a depreciating peso, President Ferdinand Marcos Jr said on Tuesday.
"We may have to defend the peso in the coming months, but the overall forecast is that we are still doing better than other countries in terms of inflation," Marcos posted on Twitter.
The Philippine peso, which has lost 13.5% against the US dollar year-to-date, has depreciated the most of Southeast Asian currencies this year, contributing to the four-year high inflation recorded in September.
