The Philippines is prepared for a possible tapering of the Federal Reserve’s record stimulus with policy measures to deal with capital outflows, central bank Deputy Governor Diwa Guinigundo said.
“We can ride out any turbulence, as we have policy tools in our hand that we can deploy anytime,” Guinigundo said in a briefing in Manila Sept. 21. The measures include boosting dollar and peso liquidity, careful surveillance of risk, use of forward guidance, tapping currency-swap agreements, and possible tightening of monetary policy, he said.
