BSP chief...

When asked to comment on the peso which is now around 52 to the US dollar, he said: "I don't find it too strong," adding that it was still within the government's forecast range.

The peso rose to 52.11 per US dollar on Tuesday, from Monday's close of 52.20, still within the government's 52-55 forecast for 2019-2022.

Diokno declined to give a year-end forecast for the peso, saying its movement would depend on the dollar's behavior and the market would determine the foreign exchange rate.

Diokno is largely seen by the market as more open to growth measures, but said he would not resort to monetary easing to ensure funds are available for the government's $180 billion infrastructure program.

"We have enough money to fund all those 'Build, Build, Build' projects," said Diokno, who was Duterte's budget secretary before his appointment to replace Governor Nestor Espenilla who died last month.

Diokno will chair his first policy meeting on March 21.

The central bank left the rate on its overnight reverse repurchase facility steady at 4.75 percent at its last two policy meetings.

The Philippines is one of Asia's fastest growing economies, but policymakers had to grapple with soaring inflation last year that pushed the central bank to raise its policy rate by a total 175 basis points to 4.75 percent.

Economists expect the central bank to reverse some of last year's policy tightening as inflation slows.

Inflation returned to the central bank's 2-4 percent target in February when the rate eased to a one-hear low of 3.8 percent.

But the year-to-date average of 4.1 percent was still outside the central bank's comfort range.