Philippine central bank faces huge uncertainty in policymaking, says governor
MANILA – Philippine central bank Governor Eli M. Remolona Jr. on Friday reiterated that policymakers face a “large element of uncertainty” which could complicate decision-making.
The Philippine central bank cut its key rate for a sixth straight time on Thursday to support growth.
Here are some key points from Remolona’s appearances on CNBC and One News.
- Inflation is under control, giving the central bank “leeway to do something about growth”.
- The central bank watches the Philippine peso, but it does not worry about day-to-day volatility.
- There are risks to inflation, but the probability of risk factors materialising is low.
- Uncertainty stems from how fast confidence in the economy will return.
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“We are at the point where monetary policy cannot do much more, but things are very uncertain.”
— Reuters
