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Philippines: BSP ends cycle of cutting rates

MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) decided yesterday to step on the brake pedal, keeping its interest rates unchanged to monitor the impact of previous monetary actions. In a press briefing, BSP officer-in-charge Francisco Dakila Jr. said the central bank believes that prevailing monetary view settings remain appropriate. The overnight reverse repurchase […]

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Philippines: Vehicle sales zoom to year-high in October

MANILA, Philippines — The country’s group of vehicle assemblers achieved its highest monthly sales for the year in October, up nearly four percent from a year ago amid higher demand for both passenger cars (PC) and commercial vehicles (CV). Data released yesterday showed combined sales of the Chamber of Automotive Manufacturers of the Philippines Inc. […]

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Philippines: ‘No more rate cuts this year’

MANILA, Phillipines — Economists said the Bangko Sentral ng Pilipinas (BSP) may step on the brake pedal and keep interest rates unchanged today, as the easing cycle is expected to resume next year. ING Bank Manila senior economist Nicholas Mapa said the BSP is expected to hold fire after unloading a salvo of rate cuts […]

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Philippines: FDI inflows slow for 6th month

MANILA, Philippines — Net inflow of foreign direct investments (FDIs) slowed down for the sixth consecutive month in August as uncertainties in the global market continued to dampen investor sentiment, the Bangko Sentral ng Pilipinas (BSP) reported yesterday. According to the latest data from the central bank, FDIs in August posted a net inflow of […]

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