BSP says to consider easing policy

Reuters

Posted at Feb 25 2009 10:43 AM | Updated as of Feb 25 2009 07:08 PM

The Bangko Sentral ng Pilipinas (BSP) will look to further ease monetary policy to bolster economic growth, Governor Amando Tetangco said on Wednesday.

"We will consider opportunities to further ease monetary policy to help stimulate growth," he told a business forum attended by the country's economic managers.

"Inflation will continue to decelerate and fall within target in 2009 and 2010," Tetangco added.

"Monetary policy remains flexible," he said, adding the central bank "has room to act pre-emptively."

The BSP holds its next rate-setting meeting on March 5. It has cut policy rates by a total of 100 basis points at its last two meetings.

Tetangco also said foreign exchange reserves at the end of the year should be between $37.5-$38.5 billion.