MANILA — Philippine central bank Governor Eli Remolona on Friday reiterated that policymakers face a “large element of uncertainty” which could complicate decision-making.
The Philippine central bank cut its key rate for a sixth straight time on Thursday to support growth.
READ: BSP cuts policy rate, as expected
Here are some key points from Remolona’s appearances on CNBC and One News.
- Inflation is under control, giving the central bank “leeway to do something about growth”.
- The central bank watches the Philippine peso, but it does not worry about day-to-day volatility.
- There are risks to inflation, but the probability of risk factors materializing is low.
- Uncertainty stems from how fast confidence in the economy will return.
- “We are at the point where monetary policy cannot do much more, but things are very uncertain.”
—Reporting by Karen Lema; Editing by John Mair