As virus outbreak spreads MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) is expected to further cut interest rates anew this month to support the economy as central banks around the world, led by the US Federal Reserve, cut their benchmark interest rates in the face of the spreading coronavirus. American banking giant JP […]
Read MoreMANILA, Philippines — A wider fiscal deficit incurred by the country in 2019 will not hurt the country’s credit rating as it provided stimulus that propelled economic growth last year, according to the Department of Finance (DOF). In a report, Finance Undersecretary and chief economist Gil Beltran said that the 3.5 percent deficit-to-gross domestic product […]
Read MoreMANILA, Philippines — The ASEAN manufacturing sector has so far survived the disruption caused by the spread of the coronavirus disease 2019 (COVID-19), returning to expansionary territory in February after eight months of deterioration, according to the new IHS Markit ASEAN Purchasing Managers’ Index (PMI). The headline PMI for ASEAN manufacturing rose to 50.2 in […]
Read MoreMANILA, Philippines— Despite the coronavirus outbreak, Pat Anthony Padua, a 24-year-old management trainee at a local bank, was all set to fly with friends to South Korea next week until the government spoiled the fun few minutes after he secured his visa. “On February 26, our visa applications were approved only for the travel ban […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) has enough policy space to totally unwind a tightening cycle that saw interest rates jump by 175 basis points in 2018, according to Moody’s Investors Service. Christian de Guzman, senior vice president at Moody’s, told The STAR the Bangko Sentral ng Pilipinas (BSP) has room to […]
Read MoreMANILA, Philippines — Almost one year since the opening up of the market, prices of Filipinos’ main staple remained low and stable at the expense of farmers who continue to earn less, following the influx of imported rice. Latest data from the Philippine Statistics Authority (PSA) showed consistent lower prices nearly a year after the […]
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