Philippines cbank says it may continue easy policy to support growth

FILE PHOTO: A logo of Bangko Sentral ng Pilipinas is seen at their main building in Manila
FILE PHOTO: A logo of Bangko Sentral ng Pilipinas (Central Bank of the Philippines) is seen at their main building in Manila, Philippines March 23, 2016. REUTERS/Romeo Ranoco

November 14, 2021

MANILA (Reuters) – The Philippines central bank may continue its accommodative policy stance even as it expects the economy could exceed the government’s growth target this year, its governor said on Sunday.

Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said full-year growth of 5% to 6% this year, above the government’s 4% to 5% target, “is attainable”.

“The BSP may continue to be patient and continue its accommodative monetary policy stance given the current domestic, external and financial developments,” Diokno told reporters ahead of a policy meeting on Nov. 18.

(Reporting by Karen Lema; Editing by Edmund Klamann)