Philippine Central Bank must conserve bullets, says ex-deputy

Diwa Guinigundo (right) with the Bangko Sentral ng Pilipinas governor Benjamin Diokno at a news conference at the central bank's headquarters in Manila in this file picture from March 8, 2019. - Bloomberg

MANILA (Bloomberg): After a year of heavy lifting to keep the Philippine economy afloat during one of the world’s longest lockdowns, it’s time for the Bangko Sentral ng Pilipinas to stay on the sidelines, a former deputy governor said.

"Monetary policy today has done its share and should now focus on stronger monitoring,” Diwa Guinigundo said Wednesday (March 17) in an interview by text message. "BSP should conserve its ammunition considering that inflation seems to be on an uptrend.”