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Philippines: BSP hikes rates, first in more than 3 years

MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) finally raised interest rates for the first time in more than three years yesterday, saying monetary authorities are ready to take further policy action to temper inflationary pressures. BSP Governor Nestor Espenilla Jr. said in a press conference the central bank’s Monetary Board decided to raise […]

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Indonesia: National Payment Gateway could burden banks, consumers

The National Payment Gateway (GPN) may burden both consumers and banks as Bank Indonesia (BI) requires all bank customers to have at least one GPN card,  the University of Indonesia’s Institute for Economic and Social Research (LPEM UI) has said. LPEM UI researcher Chaikal Nuryakin said on Wednesday that based on BI’s target, following the issuance of Article 43 […]

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Indonesia’s finance ministry sees debt market stabilising

JAKARTA: A rise in Indonesian bond yields is unavoidable given the current global situation, but the finance ministry believes the market will stabilise and is preparing alternatives for financing in the mean time, a senior official said on Friday. “For yields to return to 6.3 percent would be hard, but we’re comfortable that the movements […]

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Bank Indonesia hints at reference rate increase

Bank Indonesia (BI) hinted on Friday that it would increase its benchmark seven-day reverse repo rate, which is currently at 4.25 percent, because of consistent external pressure that could potentially disrupt the country’s economy. The BI’s board of governors will meet on May 16 and 17. “Bank Indonesia has large enough room to increase the seven-day reserve repo rate. The […]

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Thailand: Renewables players dig in on price

THE Federation of Thai Industries (FTI) is digging on its position that the current wholesale price for electricity is too low for small operators in renewable energy.  The industry lobby sees room for an increase – from Bt2.44 per unit – to a level below that which starts to affect ordinary consumers. If the purchase […]

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