MANILA, Philippines — Consumer prices for the country’s poorest households rose by 2.3 percent last January, driven by price hikes in food, housing and utilities as well as transportation, the Philippine Statistics Authority (PSA) reported yesterday. Growth in the consumer price index for bottom 30 percent of income households during the month was also faster […]
Read MoreAs COVID-19 spreads further MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) will consider more cuts in its key policy rate and banks’ required reserves if the economic impact from the novel coronavirus disease (COVID-19) is likely to be much worse than expected. In a press conference, BSP Governor Benjamin Diokno said he remains […]
Read MoreMANILA, Philippines — The government incurred a fiscal deficit equivalent to 3.55 percent of gross domestic product (GDP) in 2019, exceeding the ceiling as government agencies made a last-minute push to accelerate their disbursements, the Bureau of the Treasury (BTr) reported yesterday. According to the latest data from the national treasury, the government’ budget deficit […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) has enhanced the capital adequacy standards for mid-sized and small banks to ensure sufficient buffer for possible losses. The central bank’s Monetary Board has approved the amendments to the risk-based capital adequacy framework for stand-alone thrift banks, rural banks and cooperative banks to further enhance the […]
Read MoreMANILA, Philippines — Despite being relatively insulated from the effects of the coronavirus disease 2019, (COVID-19), the Philippines will likely see slower economic growth in the first quarter of the year primarily due to the virus’ impact on tourism, London-based think tank Capital Economics said. In a new research brief titled “Assessing the impact so […]
Read MoreMANILA, Philippines — Term deposit rates eased across the board anew, as investors anticipate more interest rate cuts amid the impact of the coronavirus disease-2019 (COVID-19), according to the Bangko Sentral ng Pilipinas (BSP). The yield of the seven-day term deposits slipped by 0.51 basis point to 3.8250 percent at the term deposit auction facility […]
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