MANILA, Philippines — The research arm of the Moody’s Group has slashed its growth forecast for the Philippines to 5.7 percent this year, from an earlier estimate of 7.1 percent, on the back of stubborn and persistently high inflation. Steven Cochrane, chief economist for Asia-Pacific at Moody’s Analytics, said the Philippines had the largest downgrade […]
Read MoreMANILA, Philippines — The Philippines registered a balance of payments (BOP) deficit of $895 million in February, the widest in five months, as the government settled more foreign obligations, the Bangko Sentral ng Pilipinas (BSP) said. Data released by the central bank showed the BOP shortfall last month was 5.7 times the $157 million deficit […]
Read MoreMANILA, Philippines — The government yesterday raised P25 billion via the issuance of long-term securities although at slightly higher rates demanded by investors. The Bureau of the Treasury yesterday fully awarded P25 billion for the reissued 20-year T-bonds on offer with a remaining life of 19 years and eight months. The 20-year T-bonds fetched an […]
Read MoreMANILA, Philippines — Three major export industry groups representing the information technology business process management (IT-BPM), semiconductor/ electronics, and the garments/ wearables industries are waiting for a resolution on the value added tax (VAT)-zero rating issue currently being finalized by the government through the Fiscal Incentives Review Board (FIRB). “A solution has been promised by […]
Read MoreMANILA, Philippines — The national government’s foreign currency debt payments sent the country’s dollar position into familiar territory as it settled into a deficit in February. Data provided by the Bangko Sentral ng Pilipinas on Monday showed the country’s balance of payments position landed in a deficit of $895 million in February. This was larger than […]
Read MoreBENGALURU, March 21 (Reuters) – The Philippine central bank will hike its main interest rate by a modest 25 basis points on Thursday, followed by another next quarter, making rates peak higher than previously thought, before pausing until the end of the year, a Reuters poll found. The latest move would follow a 50 basis […]
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