Philippine bonds fell on speculation the central bank will raise interest rates to contain inflation as economic growth gathers pace.
“The expectation of higher interest rates has been pushed forward,” said Jonathan Ravelas, a market strategist at Banco de Oro Unibank Inc. in Manila. “Faster-than-expected growth must be cooled to be sustainable. The central bank may probably tweak its monetary policies earlier than expected. The earliest would probably be June 3.”
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