MANILA, Philippines — The rise in consumer prices likely quickened further, with inflation accelerating to a range of 5.7 to 6.5 percent in June from 5.4 percent in May, according to the Bangko Sentral ng Pilipinas (BSP). Finance Secretary and former BSP governor Benjamin Diokno cited the continued increase in domestic oil prices, upward adjustment […]
Read MoreRising inflation, weakening peso MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) may consider more aggressive rate hikes in August than the signaled 25-basis-point gradual increase amid concerns of quickening inflation and depreciating peso. BSP Governor Felipe Medalla told reporters the central bank’s Monetary Board may consider bigger rate hikes to anchor inflation expectations […]
Read MoreMANILA, Philippines — Factory gate prices remained in an upward trend in May, as increments have been recorded in nearly the entire majority of industry groups, the Philippine Statistics Authority (PSA) said. Latest data from PSA showed that the Producer Price Index (PPI) for May accelerated 6.9 percent, faster than the 6.3 percent in April. […]
Read MoreMANILA, Philippines — A change in government yesterday failed to excite the stock market as scorching inflation, a weakening peso, and prospects of bigger rate hikes continue to send jitters to investors. The benchmark Philippine Stock Exchange index (PSEi) ended at 6,155.43, down 147.76 points or 2.34 percent, to stumble further in the red yesterday. […]
Read MoreMANILA, Philippines — The Philippines is expected to post the strongest economic growth in Southeast Asia this year as domestic demand continues to recover even amid rising inflationary pressures. GlobalData, a leading data and analytics company in the UK, said gross domestic product (GDP) in the country would likely grow seven percent this year from […]
Read MoreMANILA, Philippines — S&P Global Ratings kept its gross domestic product (GDP) growth forecast for the Philippines at 6.5 percent for this year, but said scarring is largest in the country, as output would remain below pre-COVID trend in several Asia-Pacific economies. In a report, the debt watcher said the projected GDP growth for the […]
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