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Philippine central bank prepared for any US Fed policy moves, says governor

The Philippines' central bank is prepared in the event that the U.S. Federal Reserve changes its monetary policy, its governor said on Thursday.

Security guard stands beside a logo of the Bangko Sentral ng Pilipinas (Central Bank of the Philipp
FILE PHOTO: A security guard stands beside a logo of the Bangko Sentral ng Pilipinas (Central Bank of the Philippines) posted at the main gate in Manila, Philippines April 28, 2016. REUTERS/Romeo Ranoco

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MANILA: The Philippines' central bank is prepared in the event that the U.S. Federal Reserve changes its monetary policy, its governor said on Thursday.

"We are prepared for any adjustment in Fed rates," Bangko Sentral ng Pilipinas Governor Benjamin Diokno told a news conference, adding that the central bank had enough policy tools "for any eventualities."

But Diokno does not think the Fed will "rock the boat" ahead of U.S. mid-term elections next year. Federal Reserve policymakers have begun to acknowledge they are closer to debating when to pull back some of their crisis support for the U.S. economy, even as they say it is still needed to bolster the recovery and employment.

(Reporting by Neil Jerome Morales; Editing by Ed Davies)

Source: Reuters