Growth of the country’s money supply slowed down in April as the pandemic continues to affect banks’ lending, the Bangko Sentral ng Pilipinas (BSP) said. In a statement on Monday, the central bank said domestic liquidity (M3) rose by 5.1 percent year-on-year to P14.2 trillion in April, slower than the 8.3-percent increase in March. Month-on-month […]
Read MoreThe Philippine peso may return to the weaker P48 to US dollar territory in June as the economy continues to open up, according to bank analysts. Union Bank of the Philippines chief economist Ruben Carlo Asuncion said the peso-dollar exchange rate has a negative bias, with a forecast of P48 to P48.50:$1 for next month. […]
Read MoreMANILA, Philippines — Rallying oil prices and power rates likely pushed up inflation in May, putting it beyond government target for fifth straight month, the Bangko Sentral ng Pilipinas reported Monday. In a statement, the BSP’s Department of Economic Research pegged this month’s inflation at 4-4.8%. If the upper-end of the forecast range is realized, […]
Read MoreMANILA, Philippines — S&P Global Ratings expects the inflow of foreign direct investments (FDI) into the Philippines to recover this year after declining for three straight years. In a report, the debt watcher said FDI inflow may pick up this year amid the continued rollout of COVID-19 vaccines. “We expect FDI in the Philippines to […]
Read MoreMANILA, Philippines — The country’s road to economic recovery continues to dim as COVID-19 cases remain on the rise and vaccine rollout is being hampered by lack of supply. In its latest report, market intelligence firm IHS Markit said economic recovery in the near-term is still constrained, especially after the reimposition of strict quarantine measures […]
Read MoreMANILA, Philippines — Trading of commodities in the country remained weak in the first quarter as the effects of the pandemic lingered on frail demand and movement restrictions. Based on the preliminary data from the Philippine Statistics Authority (PSA), the volume and value of goods traded inside the country both declined from January to March. […]
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