Manila c.bank tweaks inflation outlook, says on track

Published: 09 Oct 2009 21:25:27 PST

MANILA, Oct 1 - The Philippine central bank said on Thursday it expects inflation this year to average 3.03 percent, slightly above a previous estimate of 3.0 percent.

Inflation in 2010 is likely to come in at 3.43 percent, up from an earlier forecast of 3.3 percent, central bank deputy governor Diwa Guinigundo told reporters.

Guinigundo said the outlook for consumer prices remained "very favourable" and inflation expectations were well-anchored, allowing authorities to keep monetary policy accommodative.