MANILA, Philippines — Despite raising policy rates by a cumulative 100 basis points (bps) or one percentage point in three months, the Bangko Sentral ng Pilipinas (BSP) can be expected to implement another rate hike by December and two more next year, said UK-based advisory firm Oxford Economics. In a research noted issued Friday, Oxford […]
Read MoreMANILA, Philippines — As widely expected, the Bangko Sentral ng Pilipinas on Thursday made good on its vow to undertake a “strong” follow-through policy action to fight rising inflation after it raised its benchmark rates by 50 basis points, the biggest rate hike in a decade. The latest round of monetary tightening brings the BSP’s […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) delivered yesterday its biggest rate hike in a decade, raising interest rates by 50 basis points despite the slowdown in the country’s economic expansion in the second quarter. BSP Governor Nestor Espenilla Jr. said in a press conference yesterday the Monetary Board noted that the baseline forecasts have shifted higher […]
Read MoreMANILA: Economic growth in the Philippines weakened to a three-year low last quarter, missing all economists’ estimates. Stocks and the peso fell. Gross domestic product (GDP) rose 6% in the second quarter from a year earlier, the Philippine Statistics Authority said in a briefing in Manila. That was the weakest pace since 2015, according to […]
Read MoreThe Philippine central bank hiked its key interest rates by a decade-high 50 basis points on Thursday as it moved to curb inflation, while downplaying the impact its action would have on slowing economic growth. The monetary authority acted hours after the government announced a 6.0 per cent growth in the second quarter, a sharp […]
Read MoreMANILA, Philippines — An aggressive monetary policy could prevent second-round effects of rising inflation, but would have little impact on nipping the source of domestic inflationary pressure, the National Economic and Development Authority (NEDA) said yesterday. Socioeconomic Planning Secretary and NEDA Ernesto Pernia said rising inflation is primarily caused by issues in the supply side […]
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