Manila c.bank says policy neutral with easing bias
Published: 05 Nov 2009 00:33:19 PSTMANILA, Nov 5 - The Philippine central bank said on Thursday its monetary policy was neutral with an easing bias, despite an uptick in inflation.
Governor Amando Tetangco, speaking after keeping policy rates unchanged at record lows, said current policy settings were appropriate and demand side price pressures due to crop losses from recent typhoons were temporary.
"Demand side pressures on consumer prices continue to be limited and inflation expectations well anchored," he said in a statement.
"The latest inflation forecasts reflect a slightly higher path, but remain closer to the lower bound of the targets over the polocy horizon."
Deputy Governor Diwa Guinigundo later said: "We have a neutral policy stance with an easing bias."
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