Banks could be hit hard as funding costs rise faster than interest income on outstanding loans. But it may also be the case that the impact of these factors has already been felt, and inflation could turn out higher than we expect over the course of the year.
Amando M Tetangco, Jr: Providing critical support to disaster-striken areas through the Calamity Assistance Program Speech by Mr Amando M Tetangco, Jr, Governor of the Central Bank of the Philippines (Bangko Sentral ng Pilipinas), at the signing ceremony among members of the Countryside Financial Institutions Enhancement Program Task Force of the MOA to implement the Countryside Financial Institutions-Calamity Assistance Program, Manila, 14 August 2007.