April 20, 2018 / 2:01 AM / a year ago

Philippine central bank says policy actions appropriate

MANILA, April 20 (Reuters) - Philippine Central Bank Governor Nestor Espenilla said on Friday the monetary authority is satisfied with its current policy actions despite a weaker currency, rising inflation and falling stocks.

“In my view, the sum of BSP (Bangko Sentral ng Pilipinas) actions remain appropriate for the situation,” Espenilla told reporters in a text message.

Espenilla said the central bank’s term deposit facilities, which allows it to mop up liquidity, “have been moving in the right direction as guided and enabled by our open market operations.”

“This is having the desired effect on other market rates that in turn help regulate the economy and control inflation.”

Reporting by Manolo Serapio Jr. Editing by Eric Meijer

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