Philippine central bank says monetary policy settings remain appropriate

The Philippine central bank's monetary policy settings remain appropriate, its governor said on Thursday, following data showing annual inflation held steady in April.

"The numbers confirm the manageable inflation outlook for the year," Governor Amando Tetangco said in a mobile phone message to reporters.

The annual rate of consumer price inflation was unchanged at 3.4 percent in April, slightly below economists’ forecast for an increase to 3.5 percent, and within the central bank's 2-4 percent target for the year.

The central bank will meet on May 11 to review policy. It has kept policy settings unchanged since it raised interest rates by 25 basis points in September 2014.