BSP's current stance to stay: chief
MANILA - Philippine central bank governor Amando Tetangco said on Monday the bank's current accomodative stance would be maintained until data showed a shift in trends.
"The monetary stance of BSP (the central bank), which can be characterised as appropriately accommodative, can still be maintained," Tetangco told Reuters in an interview in his office.
"I think we can sustain the current stance of monetary policy until we see data trends that will necessitate change."
Tetangco also said inflation trends were favorable.
He also said that it was not yet time for global monetary authorities to exit from growth-supportive policies.
"I think now is the time to think about exit strategies, it's never too early to think about that."
But he added: "Now is not yet the time to implement exit strategies. It is important to time the exit properly."
The Philippine central bank kept its benchmark overnight borrowing rate at a record low of 4.0% at its last policy meeting in August, ending a series of rate cuts totalling 2 percentage points since December last year.
Inflation slowed to a fresh 22-year low of 0.1% in August from a year earlier, with the core inflation rate for the same month hitting its lowest level since December 2007.