Philippine central bank says April CPI supports policy stance
[MANILA] Latest data showing that Philippine inflation hit its lowest in nearly two years in April"affirm the appropriatness" of the central bank's monetary policy, the head of Bangko Sentral ng Pilipinas said on Tuesday.
Governor Amando Tetangco said policymakers will nevertheless keep watching developments, especially the actions of the US Federal Reserve and how markets react to its decisions because of their potential impact on Philippines inflation expectations.
The consumer price index rose 2.2 per cent in April from a year ago, below the 2.4 per cent rise predicted by analysts in a Reuters poll, and the lowest rate since the 2.1 per cent recorded in August 2013.
The central bank kept its benchmark interest rate steady for a fourth straight meeting on March 26, with inflation expectation to stay manageable and growth forecast to remain robust. It next meets on May 14.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
IMF tells Asian central banks not to follow Fed too closely
UN chief warns Mideast on brink of 'full-scale regional conflict'
IMF boss says ‘all eyes’ on US amid risks to global economy
UK financial sector seeks stronger accountability of regulators
US weekly jobless claims unchanged at low levels
China's central bank signals caution over credit boost as demand weakens