The Philippines will remain awash in cheap cash to help encourage growth until the central bank sees clear signs that the economy’s recovery from its deepest postwar slump is well underway, according to the head of the agency.
In an online briefing, Bangko Sentral ng Pilipinas (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—could 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 as well as the conditions under which the re…
Keep on reading: Interest rates to stay low until recovery firmly underway–Diokno