MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) is considering additional operational refinements to its main liquidity absorption tool to strengthen the transmission of changes in the monetary policy stance to the rest of the economy. Proposed changes in the term deposit auction facility (TDF) include further shortening the lead time in announcing the […]
Read MoreMANILA, Philippines — Inflation likely rose to a fresh peak in July, the Department of Finance said Friday. In an economic bulletin, DOF chief economist Gil Beltran said inflation might have hit 5.3 percent in July. If realized, this would exceed June’s 5.2 percent, which was the highest level in at least five years. According to […]
Read MoreMANILA, Philippines — Standard Chartered Bank said inflation may peak at 5.8 percent in August, prompting the Bangko Sentral ng Pilipinas (BSP) to hike rates for the third time this year next month. Chidu Narayanan, economist for Asia at Standard Chartered Bank, said inflation is expected to edge up further in the third quarter and […]
Read MoreMANILA, Philippines — Banks continue to invest their excess liquidity in the financial system as term deposits fetched mixed yields at yesterday’s auction, the Bangko Sentral ng Pilipinas (BSP) reported yesterday. Tenders at the term deposit auction facility (TDF) amounted to P128.83 billion against the issue size of P100 billion as the seven, 14, and […]
Read MoreMANILA, Philippines — The government collected P152.72 billion in excise taxes in the first half, exceeding the P136.82 billion target by 11.61 percent mainly due to higher “sin tax” collections, according to the Department of Finance. Based on DOF data, the amount was also 71.43 percent higher than the P89.09 billion generated in the same […]
Read MoreMANILA, Philippines — Fitch Ratings has affirmed the one notch above minimum investment grade credit rating and stable outlook of the Philippines on the back of the country’s strong macroeconomic fundamentals, but flagged anew overheating risks. The rating agency retained the ‘BBB” rating or a notch above minimum investment grade as the estimated five-year average […]
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