BSP Will Eventually Raise Rates, But Not Thursdays; HSBC

        0411 GMT [Dow Jones] The Philippines central bank will hold its policy rates steady at Thursday's meeting but will most likely take some action later this year, HSBC says. The change may happen as soon as the end of the second quarter, but for the time being the preferred tool will be adjustments to the reserve requirement ratio, which can take some of the excess liquidity out of the system. "To be sure, monetary officials have been very vocal about their concerns of excess liquidity and likely increase of inflationary pressures. Although this signals their monetary stance, they will only adjust rates ever so moderately," HSBC says. (jake.watts@wsj.com)
        (END) Dow Jones Newswires

        May 07, 2014 00:11 ET (04:11 GMT)