The Bangko Sentral ng Pilipinas (BSP) reiterated Monday it will continue its accommodative monetary policy with the economic recovery still patchy.

BSP Governor Amando Tetangco said the latest data ''indicates that while the Philippine economy is on a growth trajectory, the recovery has been relatively moderate and uneven.''

''While there are therefore welcome signs of recovery, soft spots remain,'' he said in an email to reporters.

The Philippine economy grew a less than expected 1.0 percent in the third quarter over the previous three months, according to data released last week, strengthening views that interest rates will stay at record lows into 2010. The BSP overnight borrowing rate has been at a record low of 4 percent since July and analysts expect the rate to stay there until the second quarter of 2010.

''Monetary policy will be attentive to trends in economic activity, as these impact on demand and therefore on price pressures,'' Tetangco said. ''To the extent the inflation outlook would allow, we will pursue an accommodative monetary policy.''