Philippine central bank says no pressing need to change policy stance at this time
MANILA (Reuters) - The Philippine central bank said on Thursday it saw no need to change its monetary policy stance, after the U.S. Federal Reserve held interest rates steady on Wednesday and signalled fewer rate rises this year.
"We continue to see no pressing need to change the stance of monetary policy at this time," Bangko Sentral ng Pilipinas Governor Amando Tetangco said ahead of the central banks next policy review on March 23.
The central bank has kept its key overnight borrowing rate at 4.0 percent since October 2014.
(This version of the story corrects third paragraph to remove reference to 25 bps rise)
(Reporting by Karen Lema; Editing by Kim Coghill)
