BSP: No compelling reason to change monetary policy stance

Reuters

Posted at Mar 06 2015 02:35 PM | Updated as of Mar 06 2015 10:35 PM

MANILA - The Philippine central bank is not inclined to change its current monetary policy stance with the economy supported by benign inflation and continued strong domestic activity, a deputy governor said on Friday.

"We don't need to reduce the policy rate at this point because the economy is growing and inflation rate is within the target of 2-3 percent," Diwa Guinigundo, Bangko Sentral ng Pilipinas (BSP) deputy governor, told reporters.

"There is no compelling reason why we should change our monetary policy stance, it remains appropriate," he said.

The central bank next meets on March 26 to review policy.