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Philippines to Have Policy Latitude on Fed Move, Guinigundo Says

Sept. 22 (Bloomberg) -- 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.

To contact the reporter on this story: Max Estayo in Manila at mestayo@bloomberg.net

To contact the editor responsible for this story: Karl Lester M. Yap at kyap5@bloomberg.net

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