MANILA, Philippines — Any move to suspend or repeal the Rice Tariffication Law (RTL) is risking the chance of farmers to improve their productivity and for inflation to remain manageable as consumers enjoy cheap rice prices, according to Socioeconomic Planning Secretary Karl Chua. He said the RTL, which opened the floodgates for cheap rice imports, […]
Read MoreMANILA, Philippines — As widely expected, the Bangko Sentral ng Pilipinas (BSP) delivered its first rate hike in more than three years by raising policy rates by 25 basis points, bringing the benchmark rate to 2.25 percent from an all-time low of two percent. BSP Governor Benjamin Diokno, in a virtual press conference, said the […]
Read MoreMANILA, Philippines — The possibility of a rate hike for the first time in more than three years has increased as the space for accommodative monetary policy stance has narrowed significantly ahead of today’s rate setting meeting. During his weekly virtual press conference, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno hinted at the possibility […]
Read MoreMANILA, Philippines — Economists are now looking at a stronger economic growth for the Philippines after a faster-than-anticipated gross domestic product (GDP) growth in the first quarter. Standard Chartered Bank economist for Asia Jonathan Koh said the bank has upgraded the GDP growth forecast for the Philippines to eight percent from the original target of […]
Read MoreMANILA, Philippines — GMA Network Inc. is looking at sustained profitability this year, with the broadcast giant not expecting to encounter any bumps in the road with the new administration under the leadership of presumptive president Ferdinand “Bongbong” Marcos Jr. GMA chairman and CEO Felipe Gozon said the company is projecting a net income after […]
Read MoreMANILA, Philippines — The impending interest rate liftoff by the Bangko Sentral ng Pilipinas (BSP) may dent demand and employment recovery, especially in the absence of fiscal support to cushion the economy from higher borrowing costs, according to Moody’s Analytics. It said the Philippine economy has surpassed pre-pandemic levels of output after its gross domestic […]
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