Philippine News:

An inflow of capital has pushed up the peso that threatens asset price bubbles

Reforms pushed through by President Benigno Aquino have put the Philippines back on the map for international investors but authorities are struggling to control an inflow of capital that has pushed up the currency and threatens asset price bubbles.

The central bank cut interest rates last week to deter hot money but economists say inflows will remain a problem, especially with the US Federal Reserve pumping money into its struggling economy, some of which will spill into attractive emerging markets.