Philippine central bank says current policy supportive of economy

MANILA: The Philippine central bank said on Thursday its current policy stance should help support economic activity, pointing to a generally manageable inflation outlook.

The comments by central bank Governor Amando Tetangco, sent to reporters via SMS text message, backs views the central bank will likely keep its policy rate steady at its next meeting in December.

"While GDP surprised to the downside, we expect GDP would continue to be buoyed by private consumption and as the NG (National Government) clears up spending bottlenecks.