Philippines to Have Policy Latitude on Fed Move, Guinigundo Says

The Philippine central bank will have more latitude in setting monetary policy, Deputy Governor Diwa Guinigundo said, commenting on the decision of the U.S. Federal Reserve to replace $400 billion of short-term debt in its portfolio with longer-term Treasuries.

Bangko Sentral ng Pilipinas and the government will “continue to strengthen domestic demand, maintain fiscal sustainability, and safeguard price stability,” Guinigundo said in a mobile-phone text message today.

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