Philippines Can Continue Easy Monetary Policy, Diokno Says

(Bloomberg) -- The Philippine central bank can keep its accommodative monetary policy stance, Governor Benjamin Diokno said Sunday, ahead of the Nov. 18 policy rate meeting.

Inflation is easing and economic output is rising faster than expected, with this year’s GDP growth likely to exceed targets, Diokno said in a mobile-phone message to reporters. He also sees the peso appreciating as overseas Filipino workers send money home ahead of the holidays.

“The BSP may continue to be patient and continue its accommodative monetary policy stance given the current domestic, external and financial developments,” Diokno said.

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