MANILA (Reuters) - Philippine central bank deputy governor Diwa Guinigundo said on Monday now is not the best time to ease monetary policy by reducing reserve requirements because inflation is accelerating.
“At this time, it’s not good to be talking about easy monetary policy when inflation rate is charging upwards. And at the same time you have as your backdrop the tightening of monetary policy in the U.S,” Guinigundo told a business forum.
Guinigundo also said he saw no need to widen the interest rate corridor.
The central bank left policy setting unchanged at its May 11 meeting.
Reporting by Neil Jerome Morales; Editing by Simon Cameron-Moore