In a statement, the central bank said it was just starting to assess the preliminary data on the possible impact of the ongoing eruption on both consumer price and economic growth.
“I think NEDA [National Economic and Development Authority] has already made an assessment, and so with the absence of any assessment on our part, we’ll go along with NEDA and it’s not going to affect too much both inflation and the [economic] growth path,” Diokno told reporters during the first “GBED Talks” press chat, also on Friday.
“[Y]ou know, if you do the analysis, we have to look at the general equilibrium. So for example, if you lose some tourism [activity] in that area, you can bet that tourism will sprout in other areas,“ Diokno said. For both 2020 and 2021, it also sees inflation averaging near the midpoint of the target band at 2.9 percent.
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