Low volatility challenges central banks – BSP deputy governor

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Central Bank of the Philippines

Central banks should be wary of periods of unusually low volatility and calibrate policies accordingly, Diwa Guinigundo, deputy governor for monetary stability at the Central Bank of the Philippines (BSP), said in recent remarks.

Speaking at Central Banking’s National Asset-Liability Management Asia symposium in Singapore on September 20, Guinigundo said there had been a reversal of the relationship between market volatility and measures of uncertainty.

Guinigundo pointed out that the correlat

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