"If the inflows are hot money, we need to be careful … because they can lead to financial...

|By:, SA News Editor

"If the inflows are hot money, we need to be careful … because they can lead to financial volatility," Philippine central bank chief Amando Tetangco says, referring to anticipated capital inflows into the country's debt and equity (EPHE) markets following two upgrades into investment grade territory (S&P and Fitch) in the last two months. Some worry the ratings agencies' moves will cause unmanageable inflows at a time when the peso has already gained 3.3% against the dollar in the past 12 months.