Jakarta. A slide in the Philippines’ economic growth to its weakest in three years wraps up a slew of dismal data from Southeast Asia and adds pressure on governments to unleash some of their fiscal spending firepower given the limitation of monetary policy now.
After years of low interest rates and cheap money, consumers and companies across much of the region are burdened by weighty debts, making monetary stimulus less effective. An expected uptick in inflation also suggests limited room for further rate cuts.
