Philippines Shuts Markets, Offices as Typhoon Heads to Manila

The Philippines ordered financial markets and government offices shut today as the capital braces for Typhoon Rammasun, which killed at least two people before making landfall.

As Prices Rise, Philippine Banker Fires Warning Shot on Rates

Just days ago, Philippine central bank governor Amando Tetangco waded into the debate over how policy makers should react to the turmoil in emerging markets, warning that tinkering with policy interest rates is “not necessarily the most appropriate response at this time.”