Philippine central bank stands ready to adjust policy

MANILA, May 12 (Reuters) – The Philippine central bank stands ready to adjust its monetary policy settings if it sees signs of demand-driven inflation, its governor said on Thursday.

Bangko Sentral ng Pilipinas Governor Benjamin Diokno said the monetary authority supports the implementation of non-monetary measures by the government to address supply-side factors currently driving consumer prices up.

“The BSP stands ready to adjust our monetary policy settings, should we see material risk of these supply-side pressures spilling over to the demand side,” Diokno said ahead of a policy meeting on May 19.

(Reporting Neil Jerome Morales and Karen Lema; Editing by Martin Petty)