BSP says policy settings remain appropriate
MANILA - The Philippine central bank's monetary policy remains appropriate with inflation expected to remain manageable for the foreseeable future, Governor Amando Tetangco said on Friday.
Annual inflation picked up more than expected to 2.7 percent in September, but stayed below the central bank's 3-5 percent target for the year.
"This reaffirms our assessment that inflation would remain manageable over the policy horizon and that, barring any unforeseen developments, policy settings continue to be appropriate," Tetangco told reporters in a text message.
The central bank held its benchmark rate and the rate on its special deposit account facility steady last month, with inflation tame and the domestic economy on a solid footing. It next meets on Oct. 24 to review policy.