MANILA, Philippines - The Bangko Sentral ng Pilipinas, the country's central bank, said Tuesday that December annual inflation, which came in sharply below market expectations, would allow it to conduct an accommodative monetary policy.
The government reported that consumer prices in December climbed at an annual rate of 8.0 percent, below the market's forecast of 8.8 percent and the central bank's estimate of 8.6-9.5 percent.
"(It) further reinforces more accommodative stance of monetary policy," Deputy Governor Diwa Guinigundo said in a mobile phone text message to reporters.
