MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) has extended the zero spread on its peso rediscount loans until the end of the year to allow banks to tap the facility to meet their temporary liquidity needs amid the pandemic. BSP Governor Benjamin Diokno said the Monetary Board approved the extension of the temporary […]
Read MoreMANILA, Philippines — More foreign portfolio investments or speculative funds flowed into the Philippines for the second straight month, resulting in a net inflow of $334.51 million in June, according to the Bangko Sentral ng Pilipinas (BSP). The net inflow in June was a complete reversal of the $235.14 million net outflow recorded in the […]
Read MoreMANILA, Philippines — Local factories stayed in expansion mode in July but the growth of output eased, with fresh lockdowns in Metro Manila posing a new threat to manufacturers’ delicate recovery. A monthly survey of 400 companies showed the Philippines’ purchasing managers’ index (PMI), a measure of factory output, fell to 50.4 in July from 50.8 in […]
Read MoreMANILA, Philippines — Most economists are convinced inflation eased further in July and returned within the two to four percent target of the Bangko Sentral ng Pilipinas (BSP). The BSP earlier said its expects inflation to pick up anew at a median rate of 4.3 percent in July and has vowed to keep an accommodative […]
Read MoreMANILA, Philippines — The consumer and retail sector in the Philippines is seen fully recovering from the impact of the COVID-19 pandemic next year after a major slump last year, according to Fitch Solutions Country Risk & Industry Research. In its latest commentary, “Philippines consumer outlook: Spending recovery from COVID-19 to spill into 2022,” Fitch […]
Read MoreMANILA, Philippines — The country’s outstanding debt ballooned to a fresh record high of P11.16 trillion as of end-June, the bulk of which consists of domestic obligations. The Bureau of the Treasury (BTr) yesterday reported the total debt stock of the Philippines jumped by P2.11 trillion or more than 23 percent to a new high […]
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