Philippine central bank sees March annual inflation at 0.6-1.4%

[MANILA] Philippine annual inflation will likely be in a range of 0.6-1.4 per cent in March, reflecting cheaper power rates and a stronger peso, the head of the Bangko Sentral ng Pilipinas said on Wednesday.

The bottom end of the range would mark the slowest rate in five months, while the top end would be a three-month low. Annual inflation unexpectedly eased to 0.9 per cent in February.

"The BSP will remain attentive to evolving price trends to ensure that the monetary policy stance remains consistent with the mandate of preserving price stability conducive to sustained economic growth," Governor Amando Tetangco said in a mobile phone message.

The Philippine central bank kept its benchmark interest rate steady at 4.0 per cent earler on Wednesday, as expected, amid robust economic growth and subdued inflation.

REUTERS