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Philippine central bank to continue easy monetary policy to ensure recovery

Philippine central bank to continue easy monetary policy to ensure recovery

FILE PHOTO: A logo of Bangko Sentral ng Pilipinas (Central Bank of the Philippines) is seen at their main building in Manila, Philippines March 23, 2016. REUTERS/Romeo Ranoco

MANILA : The Philippines' central bank will keep its accommodative monetary policy plans for as long as needed to ensure a strong and sustainable economic recovery from the coronavirus pandemic, its governor said on Monday.

Bangko Sentral ng Pilipinas Governor Benjamin Diokno also told ANC news channel he expects a "strong recovery" in the second quarter after a contraction in the first quarter. Policymakers will meet on Thursday to decide on key rates, while second quarter economic data will be released on Tuesday.

(Reporting by Neil Jerome Morales; Editing by Ed Davies)

Source: Reuters

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