Spatio-temporal time series forecasting plays a critical role in various real-world applications, such as transportation optimization, energy management, and climate analysis. The recent advancements in Pre-trained Language Models (PLMs) have inspired efforts to reprogram these models for time series forecasting tasks, by leveraging their superior reasoning and generalization capabilities. However, existing approaches fall short in handling complex spatial inter-series dependencies and intrinsic intra-series frequency components, limiting their spatio-temporal forecasting performance. Moreover, the linear mapping of continuous time series to a compressed subset vocabulary in reprogramming constrains the spatio-temporal semantic expressivity of PLMs and may lead to potential information bottleneck. To overcome the above limitations, we propose \textsc{RePST}, a tailored PLM reprogramming framework for spatio-temporal forecasting. The key insight of \textsc{RePST} is to decouple the spatio-temporal dynamics in the frequency domain, allowing better alignment with the PLM text space. Specifically, we first decouple spatio-temporal data in Fourier space and devise a structural diffusion operator to obtain temporal intrinsic and spatial diffusion signals, making the dynamics more comprehensible and predictable for PLMs. To avoid information bottleneck from a limited vocabulary, we further propose a discrete reprogramming strategy that selects relevant discrete textual information from an expanded vocabulary space in a differentiable manner. Extensive experiments on four real-world datasets show that our proposed approach significantly outperforms state-of-the-art spatio-temporal forecasting models, particularly in data-scarce scenarios.