BSP says has space for policy maneuvering

Posted at 07/05/12 12:33 PM

MANILA - The Philippine central bank has more space for policy maneuvering after annual inflation eased slightly in June from May, Deputy Governor Diwa Guinigundo said on Thursday.

Inflation in June was 2.8 percent from a year ago, slowing slightly from May's 2.9 percent and matching the median forecast in a Reuters poll.    

"(June CPI was) within BSP's expectation. (It) provides more room for monetary maneuvering given the global uncertainties and need to avoid asset-price inflation,' Guinigundo told Reuters in a mobile text message."

The central bank had forecast annual inflation at 2.5 to 3.4 percent in the month.