BSP says current policy remains appropriate


Posted at Sep 03 2012 10:35 AM | Updated as of Sep 04 2012 01:24 AM

MANILA - The Philippine central bank's current policy stance is still appropriate but authorities are closely watching the strength of foreign fund inflows following the U.S. Federal Reserve's comments it was open to further easing, its Governor Amando Tetangco said on Monday. 

The central bank next meets on Sept. 13 and there are mixed market views on whether authorities would cut rates or keep them steady after growth slowed more than expected in the second quarter from the first three months of the year. 

The Bangko Sentral ng Pilipinas cut its key policy rate to new low of 3.75 percent in July, the third reduction this year. (Reporting by Karen Lema; Editing by Rosemarie Francisco)