Philippine c.bank reiterates not time for exit strategy
Published: 23 Sep 2009 00:36:45 PSTMANILA, Sept 23 - Philippine central bank Governor Amando Tetangco said on Wednesday it was not yet time to shift from expansionary monetary and fiscal policies, which were helping an economic recovery.
"It's never too early to think about an exit strategy but this is not yet the time to implement that," he told reporters.
"We should allow the monetary and fiscal stimulus to continue so we do not stymie the recovery."
Any shift in policy should come gradually, Tetangco added.
"It will have to be timed properly and will have to be gradual to allow markets to adjust in an orderly fashion," he said.
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