Philippine c.bank says growth priority, but ready to act on inflation

MANILA, March 10 (Reuters) – The Philippine central bank is focused on preserving monetary policy support, since sustaining economic recovery remains its priority, but is also ready to take measures to tackle inflationary pressures, its governor said on Thursday.

Bangko Sentral ng Pilipinas “stands ready to respond to potential second-round effects arising from elevated inflation pressures that can disanchor inflation expectations,” Governor Benjamin Diokno said in a statement. The central bank holds its next monetary policy meeting on March 24.

(Reporting by Neil Jerome Morales and Enrico Dela Cruz
Editing by Ed Davies)

((enrico.delacruz@tr.com))