MANILA, Philippines — Foreign trade climbed up in September as exports picked up amid a growing import bill, resulting in a smaller trade deficit. The Philippines’ external trade grew 11.3% year-on-year to $19.14 billion in September, data from the Philippine Statistics Authority released Friday showed. This was slower compared to the 15% annual growth rate […]
Read MoreMANILA, Philippines (Update 1, 11:23 a.m.) — The prices of key goods and services hit their quickest pace of growth in over a decade in October, forcing Filipinos to continue tightening their spending and giving the Bangko Sentral ng Pilipinas more reason to stay hawkish. Inflation, as measured by the consumer price index, accelerated to […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas is raising key policy rates by a huge 75 basis points (bps), matching the aggressive hike delivered by the US Federal Reserve, as a preemptive move to prevent the peso from depreciating further before the scheduled rate-setting meeting of the BSP two weeks from now. In a […]
Read MoreMANILA, Philippines — While the Philippines continued to post a slight increase in motor vehicle production in the first nine months, its growth continues to lag behind the majority of its Southeast Asian neighbors. Based on data from the Association of Southeast Asian Nations (ASEAN) Automotive Federation (AAF), 63,718 motor vehicles were assembled in the […]
Read MoreTHE Philippine central bank will increase its benchmark interest rate by 75 basis points at its Nov 17 meeting to match the Federal Reserve hike, governor Felipe Medalla said on Thursday (Nov 3). The increase in the overnight reverse repurchase rate from the current 4.25 per cent will take effect after the scheduled meeting in […]
Read MoreDOMESTIC manufacturing activity continued to expand in October but at a pace slower than the previous month, S&P Global reported on Wednesday. At 52.6, the Philippines’ latest purchasing managers’ index (PMI) was down slightly from September’s 52.9. The result remains positive, however, as readings above 50 indicate gains. “While the headline index signaled a slightly […]
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