MANILA, Philippines — Domestic economic activity is projected to return to pre-pandemic level by the middle of this year after a stronger-than-expected first quarter gross domestic product (GDP) growth of 8.3 percent, according to the Bangko Sentral ng Pilipinas. BSP managing director Zeno Ronald Abenoja said the strong growth in the first quarter is likely […]
Read MoreMANILA, Philippines — The Philippines continued to fall behind its Southeast Asian neighbors in motor vehicle production, being the only country out of six that registered a decline in output in the first quarter. Association of Southeast Asian Nations (ASEAN) Automotive Federation (AAF) data showed 18,137 motor vehicles were assembled in the Philippines in the […]
Read MoreMANILA, Philippines — Inflation will be a major factor that would drive the market moving forward, traders said. In a commentary, Unicapital Securities said the continued inflation momentum would call for further rate hikes to curb rising prices. Inflation already reached 4.9 percent in April, its highest in over three years. The Bangko Sentral ng […]
Read MoreMANILA, Philippines — Economists raised their inflation forecasts for the next three years due to the impact of the ongoing Russia-Ukraine war on global oil and food prices, according to a survey conducted by the Bangko Sentral ng Pilipinas (BSP). Zeno Ronald Abenoja, managing director of the Department of Economic Research at the BSP, said […]
Read MoreMANILA, Philippines — Any move to suspend or repeal the Rice Tariffication Law (RTL) is risking the chance of farmers to improve their productivity and for inflation to remain manageable as consumers enjoy cheap rice prices, according to Socioeconomic Planning Secretary Karl Chua. He said the RTL, which opened the floodgates for cheap rice imports, […]
Read MoreMANILA, Philippines — As widely expected, the Bangko Sentral ng Pilipinas (BSP) delivered its first rate hike in more than three years by raising policy rates by 25 basis points, bringing the benchmark rate to 2.25 percent from an all-time low of two percent. BSP Governor Benjamin Diokno, in a virtual press conference, said the […]
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