MANILA, Philippines — The International Monetary Fund sees the Philippines’ real gross domestic product (GDP) growing by 6.5 percent in 2022, but slowing to five percent in 2023 as global shocks weigh on the economy in the coming months, according to IMF mission head Cheng Hoon Lim. “The Philippines has successfully emerged from one of […]
Read MoreTHAILAND’S economy is expected to grow 3.1 per cent this year, higher than a forecast in June of 2.9 per cent, supported by private consumption and exports, the World Bank said on Tuesday. However, the bank cut Thailand’s growth forecast in 2023 to 4.1 per cent, from a previous outlook of 4.3 per cent. While […]
Read MoreAn interest rate hike of at least 0.5% by the Bank of Thailand’s Monetary Policy Committee (MPC) tomorrow would be enough to shore up the baht, which has depreciated by 11.5% against the greenback this year to date, analysts said. A Reuters’s poll of 25 economists found that nearly 90% of them predicted the central bank […]
Read MoreAs many major central banks tightened monetary policies to contain soaring inflation, the State Bank of Vietnam (SBV) on September 22 also decided to hike its benchmark interest rate by 100 basis points, effective September 23. This is the first rate hike by the SBV since 2020, after the outbreak of the COVID-19 pandemic. According […]
Read MoreMANILA, Philippines — The research units of Fitch and Moody’s Groups sees the Bangko Sentral ng Pilipinas (BSP) delivering more rate hikes until December to tame inflation and stabilize the peso. In a report, Fitch Solutions Country Risk & Industry Research said the BSP is expected to hike in tandem with the US Federal Reserve […]
Read MoreSINGAPORE: Asian markets risk a reprise of crisis-level stress as two of the region’s most important currencies crumble under the onslaught of relentless dollar strength. The yuan and yen are both tumbling due to the growing disparity between an uber-hawkish Federal Reserve and dovish policy makers in China and Japan. While other Asian nations are […]
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