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Philippines' central bank says not right time to talk about easing policy
May 15, 2017 / 4:42 AM / 6 months ago

Philippines' central bank says not right time to talk about easing policy

MANILA (Reuters) - Philippine central bank deputy governor Diwa Guinigundo said on Monday now is not the best time to ease monetary policy by reducing reserve requirements because inflation is accelerating.

A logo of Bangko Sentral ng Pilipinas (Central Bank of the Philippines) is seen at their main building in Manila, Philippines March 23, 2016. REUTERS/Romeo Ranoco/File Photo

“At this time, it’s not good to be talking about easy monetary policy when inflation rate is charging upwards. And at the same time you have as your backdrop the tightening of monetary policy in the U.S,” Guinigundo told a business forum.

Guinigundo also said he saw no need to widen the interest rate corridor.

The central bank left policy setting unchanged at its May 11 meeting.

Reporting by Neil Jerome Morales; Editing by Simon Cameron-Moore

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