MANILA, Philippines—The Philippine central bank is keeping a close watch on real estate prices as part of its efforts to protect the financial system preemptively against risks, which would set the stage for the regulator to augment current monitoring mechanism to improve its early warning system.
At an online press briefing, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said that the regulator will add a Commercial Property Price Index “within the year” to give policy makers a clearer picture of the market currently provided by its quarterly Residential Real Estate Price Index.
“Together, these two indicators may be used to monitor …
Keep on reading: BSP widens monitoring of PH property market to spot risks early