January 23, 2018 / 3:27 AM / a year ago

Philippine c.bank says Q4 growth provides "ample" policy space

MANILA, Jan 23 (Reuters) - The Philippine central bank said on Tuesday that robust economic growth in the fourth quarter gives it ample room to meet its inflation target of 2-4 percent.

“The strong GDP result in Q4, and in 2017 overall, confirm the underlying strength of the economy that rests on increasingly balanced foundation,” central bank governor Nestor Espenilla said in a text message to reporters.

“This gives BSP (Philippine central bank) ample policy space to stay focused on meeting its inflation target and pursuing ambitious financial sector reforms.”

The Southeast Asian economy grew 6.6 percent in October-December, slightly below market expectations. Full-year gross domestic product growth came in at 6.7 percent, within the government’s target.

Reporting by Neil Jerome Morales; Writing by Manolo Serapio Jr.; Editing by Eric Meijer

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