MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) is seen keeping real interest rates in negative territory to help the country recover from the pandemic-induced economic recession through higher spending, according to economists. ING Bank senior economist Nicholas Mapa said the BSP is likely to keep interest rates at an all-time low of two […]
Read MoreMANILA, Philippines (UPDATE 12:25 p.m., Jan. 5) — Consumer prices accelerated for the third straight month in December, stoking worries that a projected recovery from the pandemic this year would be hampered by rising prices which nonetheless ended 2020 at a manageable level. Inflation, as measured by consumer price index, hit 3.5% year-on-year last month, the fastest in […]
Read MoreMANILA, Philippines — Faster inflation for the past 3 months is not convincing the Bangko Sentral ng Pilipinas (BSP) to reverse course from last year’s aggressive monetary easing that brought record amounts of liquidity to the financial system but risks stoking prices. “We intend to keep this accommodative monetary policy for long. So interest rates, […]
Read MoreMANILA, Philippines — Fresh from the pounding from coronavirus pandemic last year, automakers are warning this year may not be any better, no thanks to a government order to slap tariffs on imported cars. That decision, the Chamber of Automotive Manufacturers of the Philippines (CAMPI) said, is likely to trigger further sales losses, which in […]
Read MoreYEARENDER MANILA, Philippines — Before the COVID-19 pandemic, the Philippine economy was already considered a rising star – one of the fastest-growing markets in Asia, with strong growth prospects, a vibrant consumption culture, and a young, skilled workforce. Now, the health crisis threatens to undo years of gains in improving employment, reducing poverty and developing […]
Read MoreMANILA, Philippines — Fitch Solutions Country Risk & Industry Research sees the peso strengthening further to an average of 47.50 to $1 next year from the projected average of 49.60 to $1 this year. The latest foreign exchange forecast of the research unit of the Fitch Group is stronger than the previous projection of 49.75 […]
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