MANILA, Philippines — Total outstanding debt of the national government rose to a fresh high of P10.327 trillion in January as the state ramped up local borrowings to fund its pandemic responses. The Bureau of the Treasury reported yesterday that the national debt level during the month was 5.4 percent higher from the end-December 2020 […]
Read MoreMANILA, Philippines — The provisional safeguard duty imposed on imported vehicles is meant to support and protect the domestic manufacturing industry by encouraging consumers to buy locally manufactured cars, the Department of Trade and Industry (DTI) said yesterday. In a virtual briefing, Trade Secretary Ramon Lopez said the imposition of a provisional safeguard measure on […]
Read MoreMANILA, Philippines — The domestic banking sector managed to post a 6.9 percent growth in total assets despite the uncertainties brought about by the pandemic, according to the Bangko Sentral ng Pilipinas (BSP). Total resources of Philippine banks hit a record high of P20 trillion last year, P1.29 trillion higher than the P18.71 trillion recorded […]
Read MoreMANILA, Philippines — The government awarded in full the short-term debt papers offered yesterday even as rates continued to rise across the board on concerns over rising inflation and weakening demand. In yesterday’s T-bill auction, the Bureau of the Treasury raised P20 billion from total tenders worth P41 billion, making the initial offer twice oversubscribed. […]
Read MoreMANILA, Philippines — Singapore’s DBS Bank Ltd. expects the Bangko Sentral ng Pilipinas (BSP) to keep the benchmark interest rate at an all-time low of two percent this year due to rising inflation. Philip Wee, foreign exchange strategist for Asia at DBS, said inflation is seen accelerating further after breaching the higher end of the […]
Read MoreMANILA, Philippines — Prices of basic goods and services likely eased in February, but the slowdown may not last long as inflation is expected to sharply rise in the coming months, according to London-based think tank Capital Economics. Headline inflation, which is the rate of increase in the consumer price index, may settle at 3.8 […]
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