MANILA, Philippines — Moody’s Analytics has warned the Philippines about loosening its social restrictions amid the recent trend in the resurgence of COVID-19 infections as well as the spread of the Delta variant across Asia-Pacific. In a report, Moody’s Analytics senior Asia-Pacific economist Katrina Ell and economist Stefan Angrick said the contagious Delta strain is […]
Read MoreMANILA, Philippines — Car sales soared to a 4-month high in June to post another double-digit growth, as low base effects from last year’s pandemic-induced slump continued to bloat the figures. What’s new Carmakers sold 22,550 units in June, up 44.8% year-on-year, the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) and Truck Manufacturers […]
Read MoreThe Philippine peso slumped to a one-year low last week amid a strengthening US dollar and volatile oil prices. As a result, the peso weakened to 50.17 last Friday before closing at 50.08. This is the biggest one-week drop since 2013. Year-to-date, the peso has declined by 4.27 percent. The recent weakness of the peso […]
Read MoreMANILA, Philippines (Update 1, July 13, 2021 9:23 a.m.) — The Philippines’ hard-earned credit rating that the Duterte administration tried to protect by limiting pandemic spending is now at risk of being downgraded, as the health crisis is seen leaving deep economic scars. Global debt watcher Fitch Ratings on Monday downgraded its outlook on the Philippines from “stable” […]
Read MoreMANILA, Philippines — The net inflow of foreign direct investments (FDIs) more than doubled to $679 million in April from $317 million a year ago on the back of positive investor sentiment on the country’s macroeconomic fundamentals and strong growth prospects, according to the Bangko Sentral ng Pilipinas. BSP Governor Benjamin Diokno said the 114 […]
Read MoreMANILA, Philippines — The slower than expected inflation in June should give the Bangko Sentral ng Pilipinas (BSP) some room to adjust rates to support economic recovery. In its weekly outlook, London-based Capital Economics insisted that the BSP would resume its easing cycle by September. The market consensus expects the central bank to keep rates […]
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