Philippine central bank unlikely to provide further stimulus to the economy

Amando Tetangco, governor of the Philippine central bank, stated on Wednesday that China should communicate its monetary policy intents clearly in order to guide the market and reduce further volatility. The recent developments in Chinese economy and financial markets were making the markets volatile; hence, he urged the PBoC to provide more clarity over its policy.  

The slowdown in China, sluggish global economic growth and policy divergences among advanced economies are some of factors the central bank is tracking for their potential impact on trade, remittances and capital flows. However, the policy decisions will continue to depend on data, Tetangco added further.

"While a number of central banks have eased their policy settings to stimulate domestic economic activity amid a benign inflation environment, we in the Philippines don't see the need to provide further stimulus to the economy at the moment," - Amando Tetangco, governor of the Bangko Sentral ng Pilipinas