Philippine c.bank says sees scope for further easing

Published: 04 Jun 2009 17:48:06 PST

MANILA, June 5 - The Philippine central bank said on Friday scope for further monetary easing continued after annual inflation in May slowed to an 18-month low of 3.3 percent.

"This further confirms the central bank's view that the inflation outlook will continue to converge around the 2.5 percent to 4.45 percent target for this year," governor Amando Tetangco said in a text message to reporters.

"The scope for further monetary easing therefore continues, but tempered only by the need to ensure liquidity does not become excessive," Tetangco said.