MANILA, Philippines—The Philippines will remain awash with cheap cash to help encourage growth until clear signs emerge that the economy was well on its way to recovery from its deepest postwar slump, according to the head of the Bangko Sentral ng Pilipinas (BSP).
At an online briefing, BSP Governor Benjamin Diokno also sought to reassure markets that any monetary policy tightening by the US Federal Reserves—the world’s most influential central bank—can be withstood by the local financial system.
“In the Philippines, monetary policy should remain supportive until recovery is firmly underway,” he said.
The BSP chief added that the timing and the conditions under which the r…
Keep on reading: BSP to keep interest rates low until economic recovery firmly underway, says Diokno