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BSP still has policy space – Diokno

By Lee C. Chipongian

Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said they still have plenty of unused monetary policy arsenals to use to push back against the impact of the virus outbreak.

Bangko Sentral ng Pilipinas (BSP) logo

“The BSP’s policy space remains sufficient,” he told a Makati Business Club-hosted online talks. “The BSP has yet to exhaust the conventional monetary instruments in its toolkit to support the liquidity requirements of the economy, should conditions warrant,” said Diokno.

He said that as COVID-19 uncertainty continues, he remains “cautiously optimistic that we can overcome this crisis” as he also noted the heightened volatility of the markets and the drop in fund flows at the start of the pandemic.

On a positive note, the peso appeared to buck the trend as most regional currencies have depreciated significantly against the US dollar. The peso is the least depreciated currency among its peers.


Source: Manila Bulletin (https://business.mb.com.ph/2020/05/24/bsp-still-has-policy-space-diokno/)

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