MANILA, Philippines — S&P Global Ratings raised the gross domestic product (GDP) growth forecast for the Philippines to 5.8 percent this year, from its earlier projection of 5.2 percent, to make it the third-fastest growing economy in Asia Pacific. Louis Kuijs, chief economist for Asia Pacific at S&P, said the GDP growth outlook for the […]
Read MoreMANILA, Philippines — The research arms of credit raters Fitch and Moody’s expect the Bangko Sentral ng Pilipinas (BSP) to deliver at least another rate hike as part of its tightening cycle to anchor inflation expectations. In a commentary, Fitch Solutions Country Risk & Industry Research said it sees one more 25-basis-point rate hike as […]
Read MoreIf inflation eases MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) is likely to reduce the level of deposits banks are required to keep with the central bank if inflation further eases in the next two months, Dutch financial giant ING Bank said. ING senior economist Nicholas Mapa said the central bank’s Monetary Board […]
Read MoreMANILA, Philippines — More than half of the rate hike benefit since May last year has been passed on to depositors, the Bangko Sentral ng Pilipinas said. BSP Deputy Governor Francisco Dakila Jr. said depositors benefited from the tightening cycle of the central bank’s Monetary Board in the form of higher time deposit rates. He […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) is likely to take a pause in its tightening cycle as the government expects non-monetary measures to address the persistent price pressures on commodities. In a statement yesterday, Finance Secretary and Monetary Board member Benjamin Diokno said the central bank may lean toward a pause in […]
Read MoreMANILA, Philippines — As expected, the Bangko Sentral ng Pilipinas (BSP) dialed down its tightening cycle as it delivered a smaller 25-basis-point increase amid easing, but persistent price pressures. BSP Governor Felipe Medalla said the decision of the Monetary Board brought the overnight reverse repurchase rate to 6.25 percent from six percent, the highest since […]
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