MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) is likely to avoid the pre-emptive tightening of its policy stance amid the continued decline in bank lending due to the impact of the pandemic, according to Fitch Solutions Country Risk and Industry Research. The research arm of the Fitch Group said the BSP is likely […]
Read MoreMANILA, Philippines — The global bottlenecks for shipping resulting in higher freight rates are expected to remain elevated until the third quarter of the year, weighing down on trading economies including the Philippines. In its weekly economic preview, market intelligence firm IHS Markit said the continued strong recovery in the global economy is followed by […]
Read MoreMANILA, Philippines — Economists are now convinced the Bangko Sentral ng Pilipinas (BSP) is likely to keep interest rates at record lows for a prolonged period as part of efforts to help the economy fully recover from the pandemic-induced recession. HSBC economist Noelan Arbis said the sharp hit to growth expectations this year and next […]
Read MoreThe Philippine Exporters Confederation Inc. (Philexport) urged the government to ensure processes and requirements for implementing the 12-percent value added tax (VAT) on indirect exports won’t burden exporters and micro, small and medium enterprises (MSMEs). In a letter to Bureau of Internal Revenue (BIR) Commissioner Cesar Dulay, Philexport President Sergio Ortiz-Luis, Jr. expressed concerns about […]
Read MoreResidential property values plunged in the first quarter of 2021 as prices for various types of housing units declined, the Bangko Sentral ng Pilipinas (BSP) reported over the weekend. The central bank’s Residential Real Estate Price Index (RREPI) contracted by 4.2 percent year-on-year and by 1.6 percent quarter-on-quarter “due to the subdued demand for residential […]
Read MoreMANILA, Philippines — After leaving interest rates unchanged at all-time lows, the Bangko Sentral ng Pilipinas (BSP) is expected to be one of the last central banks in the ASEAN to adjust its interest rates. UK-based Pantheon Macroeconomics said the BSP is likely to be one of the last central banks in ASEAN to start […]
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