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Philippines: BSP raises rediscount rates anew

MANILA, Philippines — The Bangko Sentral ng Pilipinas lifted anew the rediscount rates on loans extended to local banks to finance the expansion needs of businesses and households. In a statement, the BSP said it raised the rediscount rates for loans under the peso rediscount facility to 5.0625 percent from 4.5625 percent for loans with […]

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Philippines: IMF to gov’t: Check inflation, sustain economic reforms

MANILA, Philippines — The International Monetary Fund (IMF) is urging the Duterte administration to address rising inflation and sustain economic reforms, including ensuring financial stability and opening sectors to competition, to reduce poverty and inequality. In its country report released last Sept. 27, the IMF said the Philippine economy “continues to perform strongly” with a projected 6.5 percent growth this […]

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Philippines: Gov’t easing foreign investment restrictions

MANILA, Philippines — The National Economic and Development Authority (NEDA) has assured British businesses that the government is working to ease foreign investment restrictions through the 11th Regular Foreign Investment Negative List (FINL), which is now up for signing by President Duterte. During the recent Philippine economic briefing held by economic managers in London, Socioeconomic […]

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Philippines: Economists see one more rate hike in Q4

MANILA, Philippines — Private economists expect the Bangko Sentral ng Pilipinas (BSP) to continue with its tightening episode as the 150-basis-point rate hike is not enough to curb rising inflationary expectations. Benjamin Shatil, regional economist at J.P. Morgan, said the BSP’s Monetary Board is expected to further raise interest rates by another 25 basis points in the […]

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