MANILA, Philippines — Moody’s Analytics slashed its 2022 gross domestic product (GDP) growth target for the Philippines to 6.8 percent from the original target of 7.2 percent as high interest rates and slower global growth challenge Asia-Pacific economies. In a report, Steven Cochrane, chief economist at Moody’s Analytics, said the regional economy is being tested. […]
Read MoreUNITED NATIONS — The Philippines can reach its goal of becoming an upper middle-income country by next year and “moderately prosperous” by 2040, but it needs the help of other nations to make such ambitions possible, President Ferdinand “Bongbong” Marcos Jr. said Wednesday. In an address delivered before the 77th United Nations General Assembly, Marcos said […]
Read MoreMANILA, Philippines — The peso slumped to a new low of 57.48 to $1 yesterday, shedding eight centavos from Monday’s 57.40, with the anticipated super-sized rate hike by the US Federal Reserve likely to be followed by a huge increase by the Bangko Sentral ng Pilipinas (BSP). The local currency hit a record intraday low […]
Read MoreMANILA, Philippines — Higher demand for dollar-denominated investments is expected as the greenback scales historic highs and the US Federal Reserve sustains its tight monetary policy. “Dollar-denominated assets should be favorable when the dollar exchange rate is strengthening, especially if it is on account of increasing interest rates, as the case is today,” Antonio Agcaoili, […]
Read MoreGROSS domestic product (GDP) growth for the Philippines in the third quarter this year is seen slowing down to the 5.9-percent to 6.6-percent range. The Bangko Sentral ng Pilipinas said in its latest Monetary Policy Report that the country’s GDP growth would settle within the revised 6.5- to 7.5-percent target set by the Cabinet-level Development […]
Read MoreMANILA, Philippines — The country’s balance of payments (BOP) registered a deficit for the fifth straight month with $572 million in August, reversing the $1.04 billion surplus in the same month last year, according to the Bangko Sentral ng Pilipinas (BSP). This brought the cumulative BOP deficit to $5.49 billion from January to August, almost […]
Read More
Thailand
