The central bank’s Monetary Board, which on Thursday decided to pause its easing policy stance of the last seven months, has seen some confirmation of economic recovery to warrant a review of policy direction.

However, the recent monetary action is not yet a signal that the Bangko Sentral ng Pilipinas (BSP) is exiting its easing mode, which cut 200 basis points off the rates they charge overnight lending.

“We cannot rule out continued easing just as yet,” said BSP Deputy Governor Diwa C. Guinigundo. “But if we see stronger signs of economic growth and determined its effects on commodity prices (and other factors such as) inflationary pressures that we are always watchful of then this kind of pausing is a move that will allow the BSP to go one way or the other as long as data will warrant these actions.”