MANILA (Reuters) - Philippine central bank governor Amando Tetangco said on Thursday that the outlook for growth remains strong even as the economy expanded less than anticipated in the first quarter.
The central bank “will continue to provide an operating environment that would support non-inflationary domestic demand,” Tetangco, whose term ends in July, said in a text message to reporters.
“As in the past, we will continue to calibrate our policy levers so these provide the appropriate incentive structure for businesses to plan with risk-adjusted returns in mind.”
In January-March, the Philippine economy grew 6.4 percent from a year earlier, the slowest pace in five quarters.
Economists say fundamentals remain strong , which may allow the central bank to raise interest rates this year.
Reporting by Enrico dela Cruz; Writing by Manolo Serapio Jr.; Editing by Richard Borsuk