MANILA, Philippines — Bank of the Philippine Islands (BPI) sees a slower economic growth this year with the gross domestic product (GDP) expansion slowing to five to six percent from 7.6 percent last year. BPI Global Markets economist Rafael Alfonso Manalili said that policymakers must look at diversifying the economy’s growth drivers to provide a […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) is likely to raise its inflation forecast after the growth in consumer prices blew past expectations to hit a fresh 14-year high of 8.7 percent in January from 8.1 percent in December. During the public hearing of the Senate Committee on Banks, Financial Institutions, and Currencies […]
Read More(Bloomberg) — Two Southeast Asian central banks are likely to take different policy actions on Thursday as inflation paths diverge, with the Philippines seen raising borrowing costs again to cool prices and Indonesia expected to hit the brakes on tightening. All 25 economists surveyed by Bloomberg see Bangko Sentral ng Pilipinas raising its benchmark rate, […]
Read MoreMANILA, Philippines — The Australia and New Zealand Banking Group Ltd. sees the Bangko Sentral ng Pilipinas (BSP) hiking rates by a total of 100 basis points this year amid a long drawn monetary policy tightening to tame inflation. In a report, ANZ said the BSP may deliver another 50-basis-point hike today followed by two […]
Read MoreMANILA, Philippines — Dollars sent home by overseas Filipino workers (OFWs) hit an all-time high last year after a strong finish in December amid soaring inflation, according to the Bangko Sentral ng Pilipinas (BSP). Data released by the central bank showed personal remittances increased by 3.6 percent to a record high $36.14 billion in 2022 […]
Read MoreMANILA, Philippines — The Securities and Exchange Commission (SEC) is urging micro, small and medium enterprises (MSMEs) to raise funds from the capital market. SEC chairperson Emilio Aquino said the COVID-19 pandemic has caused many financial problems for a lot of MSMEs around the country. “We at the SEC hope to stem their financial woes […]
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