Philippine Central Bank Ready to Support More Fiscal Spending

The Philippine central bank is ready to help further support fiscal spending, its governor said, as the government can unleash targeted measures to help the economy through the pandemic.

“Monetary policy isn’t the only the game in town, there’s a role for fiscal policy,” Benjamin Diokno said in a virtual briefing Thursday from Manila. “The good thing about fiscal policy is they can really target who can benefit from fiscal spending and tax cuts.”