MANILA, Philippines – The peso exchange rate stands at P43.77 to the US dollar, the closing rate last Friday at the Philippine Dealing & Exchange Corp. (PDEx). The weighted average rate stands at P43.793.

B.S.P. MAY RAISE 2011 INFLATION FORECAST

Bangko Sentral ng Pilipinas (BSP) Gov. Amando Tetangco said the bank may upgrade its 2011 inflation forecast of 3.6%, citing rising commodity prices.

"There might be some upward adjustment in the inflation forecast, but it would still be within the target range of 3%-5%," Tetangco told reporters. Still, "inflation remains manageable and within our target range for 2011 and 2012," he added.

The country's inflation rate in January came in higher-than-expected at 3.5%. Tetangco said Friday that a stronger peso would help moderate inflation, adding that fundamentals are supportive of the local currency.

INDONESIA RAISES KEY INTEREST RATE

JAKARTA, Feb. 5 (AFP) – Indonesia's central bank raised its benchmark interest rate by 25 basis points to 6.75 percent on Friday, days after data showed inflation was higher than forecast, an official said.

Bank Indonesia deputy governor Halim Alamsyah said the central bank decided to increase its benchmark rate from 6.50 percent on concerns that rising food prices could stoke inflation further.

I.P.O.PHL OPENS 8TH BRANCH IN C.D.O.

The Intellectual Property Office of the Philippines (IPOPHL) has recently launched its eighth satellite office in Cagayan de Oro City as the government agency intensifies its campaign to promote IP protection and awareness in the country.

During the event, Atty. Ricardo R. Blancaflor, IPOPHL Director General, signed a Memorandum of Understanding (MOU) with the Philippine Chamber of Commerce and Industry' Northern Mindanao Chapter that aims to enhance the promotion of Intellectual Property Rights (IPRs) among the various businesses in Region X. (BCM)

N.S.C.B. OKAYS P.I.D.S. SURVEY

The National Statistical Coordination Board (NSCB) has approved a survey on Association of Southeast Asian Nations (ASEAN) Economic community blueprint measures by the Philippine Institute for Development Studies (PIDS).

The survey as requested by the Economic Research Institute for ASEAN and East Asia (ERIA) will be undertaken in ASEAN member states to monitor progress in the implementation of measures stated in the ASEAN Economic Community (AEC) Blueprint towards the realization of the strong regional economic community by 2015.

The objectives of the survey are to identify the degree of significance of the measures stipulated under the AEC Blueprint’s goal of a single market. (EHL)