MANILA, Nov 4 (Reuters) – The Philippine central bank has ample room to keep its accommodative monetary policy, its governor said on Thursday, ahead of a policy meeting later this month.
With elevated inflation seen as transitory, the central bank can continue supporting economic recovery, Bangko Sentral ng Pilipinas Governor Benjamin Diokno told a regular news conference.
The central bank, which will hold its next rate setting meeting on Nov. 18, has kept interest rates PHCBIR=ECI steady at a record low of 2.0% in its last seven meetings to support the economy. nL4N2RD017
(Reporting by Neil Jerome Morales; Editing by Martin Petty)
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This article originally appeared on reuters.com