The Philippine central bank refrained from raising interest rates in an off-cycle meeting on Thursday, even as the Iran war is set to drive inflation well above its target this year.
Motorists outside One Ayala mall in the central business district in Makati City, Metro Manila. Photographer: Veejay Villafranca/Bloomberg
The Philippines suspended its wholesale electricity spot market on Thursday, the latest in a series of emergency measures meant to address energy supply risks and price volatility triggered by the Middle East conflict.
Electricity transmission towers in Plaridel, Bulacan province, the Philippines. Photographer: Lisa Marie David/Bloomberg
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