MANILA, Philippines (Updated 5:19 p.m.) — The Bangko Sentral ng Pilipinas on Thursday cut its policy rate from a decade-high amid tame inflation recorded in recent months and slower-than-expected economic growth in the first quarter. At its meeting, the BSP’s Monetary Board decided to cut key rate by 25 basis points to 4.5% effective Friday. The central […]
Read MoreMANILA, Philippines — Monetary authorities remain wary of the rising global oil prices as well as the prolonged El Niño episode as economists and analysts continue to expect the Bangko Sentral ng Pilipinas to reverse its tightening cycle and cut interest rates after inflation eased to a 16-month low of three percent in April. According […]
Read MoreThe Hanoitimes – The first phase will have 40 megawatts in capacity with an estimated cost of US$92 million, which can be expanded to 170 megawatts (MW). The Philippines’ Ayala Corporation said on May 6 its energy unit AC Energy would build a wind farm in Vietnam’s southeast coast, Filipino media group ABS-CBN reported. AC Energy […]
Read MoreMANILA, Philippines — Manufacturing output declined both in terms of volume and value in March mainly due to decreased activity in the food, furniture, basic metals and petroleum sectors, the Philippine Statistics Authority (PSA) reported yesterday. Factory output, as measured by the Volume of Production Index (VoPI), registered a 9.2 percent contraction in March, reversing the 11 percent growth in […]
Read MoreMANILA, Philippines — The increase in consumer prices slowed further in April, hitting its lowest level in 16 months primarily due to the falling cost of food, housing and utilities, the Philippine Statistics Authority (PSA) reported yesterday. The headline inflation eased to three percent from 3.3 percent in March 2019 and 4.5 percent in April […]
Read MoreMANILA, Philippines — The rise in oil prices is not yet considered a big threat to economic growth in the succeeding quarters as the increases remain gradual, the National Economic and Development Authority (NEDA) said. “It has less of an effect than food prices, food price inflation is more deleterious to inflation in general than […]
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