February 6, 2015 / 2:46 AM / 5 years ago

Philippine cbank says no urgency to modify monetary policy stance

MANILA, Feb 6 (Reuters) - The Philippine central bank sees no urgency to adjust its current monetary policy settings, with slowing inflation and sustained strong growth, its governor said on Friday.

“There’s no urgency to modify monetary policy stance. But we are not inflexible,” Governor Amando Tetangco told reporters on the sidelines of a stock exchange event.

The consumer price index climbed 2.4 percent in January from a year earlier, its slowest rise since August 2013.

The central bank meets for the first time this year on Thursday, Feb. 12 and is widely expected to keep on hold the key policy rate and the special deposit account rate, at 4.0 percent and 2.5 percent, respectively. (Reporting by Karen Lema; Editing by Richard Borsuk)

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