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Philippines: Interest rates unchanged as inflation slows

MANILA, Philippines — As expected, the Bangko Sentral ng Pilipinas (BSP) decided anew yesterday to keep interest rates steady for the meantime as it recognized risks to economic growth due to the failure of Congress to pass the 2019 national budget. In a press conference, BSP Governor Benjamin Diokno said the Monetary Board kept the overnight reverse repurchase rate at 4.75 […]

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Philippines: Weaker peso seen as imports flood in

MANILA, Philippines — The peso moved sideways yesterday ahead of the rate setting meeting of the Bangko Sentral ng Pilipinas (BSP) wherein interest rates are expected to remain unchanged amid easing inflation. The local currency shed two centavos to close of 52.81 to $1 from Tuesday’s 52.83 to $1. It opened weaker at 52.9 to […]

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Philippines: Trade data discrepancy worsens in 2018

MANILA, Philippines — The discrepancy in the trade data recorded by the Philippines as against figures reported by its trading partners worsened in 2018 due to lapses in the collection of export data, the Department of Finance (DOF) said yesterday. Comparing data from the International Monetary Fund (IMF) Direction of Trade Statistics and the Philippine Statistics Authority (PSA), Finance […]

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