Philippine central bank says no urgency to modify monetary policy stance

[MANILA] The Philippine central bank sees no urgency to adjust its current monetary policy settings, with slowing inflation and sustained strong growth, its governor said on Friday. "There's no urgency to modify monetary policy stance. But we are not inflexible," Governor Amando Tetangco told reporters on the sidelines of a stock exchange event.

The consumer price index climbed 2.4 per cent in January from a year earlier, its slowest rise since August 2013.

The central bank meets for the first time this year on Thursday, Feb 12 and is widely expected to keep on hold the key policy rate and the special deposit account rate, at 4.0 per cent and 2.5 per cent, respectively.

REUTERS