Bangko Sentral says no real urgency to change policy stance

The central bank sees no real urgency to change its monetary policy stance, its governor said on Monday, adding it does not have to move in line with policymakers in advanced economies.

"Authorities will do what they believe would work for their specific circumstances," Governor Amando Tetangco Jr. said in a mobile text message to reporters.

"So far our fundamentals have held up against these and other headwinds, aggregate demand remains firm and inflation expectations are well anchored. Thus there is no real urgency to change stance of policy now."

Tetangco's remarks follow Bank of Japan's surprise policy easing on Friday. The BOJ's move to adopt negative rates also heightened expectations the European Central Bank would ease further. – Reuters