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BSP Outlines Strategy To Reduce Bond Purchases Once Recovery Becomes Sustainable

BSP

Bloomberg circulates written comments from Bangko Sentral ng Pilipinas, who note that their holding of government bonds have grown almost 400% during the pandemic and outline a plan for cutting purchases once economic recovery becomes sustainable.

  • BSP says their outstanding government securities holdings was PHP1.52tn at the end of June 2021 vs. PHP313.9bn at the end of 2019.
  • Bangko Sentral plan to "carefully unwind some of the government security purchases as part of its exit strategy from extraordinary monetary accommodation". The central bank did not provide any specific timeline.
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