Core Viewpoint - The Governor of the Central Bank of the Philippines stated that aggressive intervention in the foreign exchange market to maintain the exchange rate is futile, and interventions will only occur for normal liquidity reasons [1] Group 1 - The Central Bank of the Philippines emphasizes that it will not engage in heavy intervention to stabilize the currency [1] - The Governor indicated that if the currency continues to depreciate, more serious interventions may be necessary at some point [1]