MANILA, Philippines — The government raised its debt payments for the first time in six months in May to P57 billion, as it pushes on with its move to slash its obligations in line with fiscal consolidation. According to the Bureau of the Treasury, debt servicing increased by more than half to P57.44 billion in […]
Read MoreMANILA, Philippines — Foreign banks are expecting the Bangko Sentral ng Pilipinas (BSP) to aggressively hike key policy rates by a total of 125 basis points to bring the benchmark rate to 4.50 percent by the end of the year. This would be the highest interest rate since the 4.75 percent level in February 2019. […]
Read MoreMANILA, Philippines — Boosting the country’s infrastructure program will allow the economy to grow more and, in turn, reduce the poverty rate that has been exacerbated by the pandemic. Department of Finance chief economist Gil Beltran said there is a need to push for more growth-oriented spending after COVID-19 pushed more Filipinos into poverty over […]
Read MoreAfter weeks of saying the BSP is being very cautious about raising the interest rate despite the weakening peso, it surprised everyone when it raised it by 75 basis points last week. It was in reaction to the US inflation rate zooming to 9.1 percent, fueling speculations US interest rates could rise by a full […]
Read MoreMANILA, Philippines — Amid harsh economic conditions, majority of Filipinos want the Marcos administration to prioritize taming inflation and boosting wages, according to a new Pulse Asia survey released Tuesday. Results of a nationwide poll of 1,200 adults conducted from June 24 to 27 showed 57% of respondents saying they want the Marcos administration to […]
Read MoreMANILA, Philippines — Wholesale prices of goods moved up at a slower pace in May from the previous month as four commodity groups registered lower increases, the Philippine Statistics Authority (PSA) said. Data from the PSA showed growth in the general wholesale price index (GWPI) at the national level slowed to 7.9 percent in May […]
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