LOCAL STOCKS declined on Thursday on profit taking and fears that the central bank will deliver a big rate hike next week following faster-than-expected inflation in January. The benchmark Philippine Stock Exchange index (PSEi) went down by 80.29 points or 1.16% to close at 6,842.79 on Thursday, while the broader all shares index dropped by […]
Tag: hike
AmCham presses DTI to ‘regularly’ publish SRP bulletins
THE AMERICAN Chamber of Commerce of the Philippines, Inc. (AmCham) pressed the Department of Trade and Industry (DTI) to publish suggested retail price (SRP) bulletins for basic necessities and prime commodities on a regular basis to help manufacturers manage their operations. AmCham Executive Director Ebb Hinchliffe, in a letter dated Jan. 20 addressed to Trade […]
Local shares decline on inflation, rate hike bets
SHARES dropped on Wednesday ahead of release of December US consumer inflation data and expectations of rate hikes from both the US Federal Reserve and the Bangko Sentral ng Pilipinas (BSP) in their first meetings of the year. The bellwether Philippine Stock Exchange index (PSEi) went down by 47.35 points or 0.7% to close at […]
Solon calls for suspension of SSS, PAG-IBIG rate hike after PhilHealth
AN OPPOSITION lawmaker on Tuesday called on Malacañang to suspend the scheduled contribution rate hikes for the private sector pension fund and the shelter financing fund, following the deferment of health insurance contribution increase. House Deputy Minority Leader Rep. France L. Castro said the Social Security System (SSS) and the Home Development Mutual Fund or […]
Shares slip ahead of US CPI data, Fed meeting
STOCKS inched lower on Tuesday as investors wait for the release of latest US consumer inflation data and the US Federal Reserve’s policy meeting, as these could affect the Bangko Sentral ng Pilipinas’ (BSP) decision this week. The bellwether Philippine Stock Exchange index (PSEi) inched down by 2.82 points or 0.04% to close at 6,582.38 […]
Union proposes P100 minimum wage hike for Metro Manila
A TRADE UNION has filed a petition seeking a P100 increase in the daily minimum wage in the National Capital Region (NCR) to help workers deal with inflation. The Kapatiran ng mga Unyon at Samahang Manggagawa (Kapatiran) filed its petition on Monday before the NCR wage board. “The minimum wage laborer in NCR is not […]
BSP to hike interest rates by 25 or 50 bps in Dec.
MANILA — The Philippine central bank will hike interest rates this month, though the monetary board is likely to be split over whether to raise the policy rate by 25 or 50 basis points, its governor said on Friday in an interview with Bloomberg TV. Felipe M. Medalla expressed relief that the US Federal Reserve […]
BSP has to raise rates along with Fed to support peso — Medalla
The Philippine central bank will have to raise interest rates if the US Federal Reserve tightens policy further to support the peso and prevent the currency’s weakness from further stoking inflation, its governor said on Friday. Bangko Sentral ng Pilipinas (BSP) has raised interest rates by 300 basis points this year to curb inflation, running […]
BSP to match Fed’s 75-bp rate hike
By Keisha B. Ta-asan, Reporter THE BANGKO SENTRAL ng Pilipinas (BSP) said it plans to raise its key policy rates by 75 basis points (bps) at its next meeting, matching the US Federal Reserve’s latest monetary tightening. The Fed delivered its fourth straight 75-bp rate increase on Wednesday, as it continues to fight persistent inflation. […]
PHL shares decline as Fed delivers big rate hike
SHARES declined on Thursday after the US Federal Reserve delivered another jumbo rate hike, with the Bangko Sentral ng Pilipinas (BSP) expected to match the move at its own meeting this month. The Philippine Stock Exchange index (PSEi) went down by 50.13 points or 0.8% to end at 6,156.11 on Thursday, while the broader all […]
Peso sinks ahead of Fed decision
THE PESO weakened versus the dollar on Wednesday on expectations of another aggressive rate hike from the US Federal Reserve. The local unit closed at P58.47 against the dollar on Wednesday, down by 50 centavos from P57.97 on Friday, data from the Bankers Association of the Philippines’ website showed. Philippine financial markets were closed for […]
Peso may weaken on Fed hike bets
THE PESO may weaken further this week as faster-than-expected September US consumer inflation fueled market expectations of another big rate hike from the US Federal Reserve next month. The local unit closed at P58.935 per dollar on Friday, gaining 6.5 centavos from its P59 finish on Thursday, based on Bankers Association of the Philippines data. […]
Peso closes at P57.48 a dollar
THE PESO weakened versus the dollar on Tuesday as market players expect the US Federal Reserve to remain aggressive in its meeting this week. The local unit closed at a new all-time low of P57.48 against the greenback on Tuesday, losing eight centavos from its P57.40 finish on Monday, Bankers Association of the Philippines data […]
PHL stocks may decline before Fed, BSP meetings
PHILIPPINE SHARES may continue to decline this week ahead of the policy meetings of the US Federal Reserve and the Bangko Sentral ng Pilipinas (BSP). The Philippine Stock Exchange index (PSEi) slipped by 26.90 points or 0.4% to close at 6,548.77 on Friday, while the broader all shares index went down by 22.49 points or […]
PSEi drops on lingering key rate hike concerns in US
SHARES DECLINED further on Wednesday on lingering rate hike concerns following the release of new US labor market data. The bellwether Philippine Stock Exchange index (PSEi) went down by 106.62 points or 1.59% to close at 6,583.65 on Wednesday, while the broader all shares index went down by 47.78 points or 1.34% to 3,500.72. “The […]
‘Hot money’ outflows slow in July
THE EXIT of short-term foreign investments slowed in July, as the Bangko Sentral ng Pilipinas (BSP) continued to tighten monetary policy. Data released by the central bank showed transactions on foreign investments registered with the BSP through authorized agent banks (AABs) saw a net outflow of $103.14 million in July, the smallest outflow in two […]
TDF yields climb on tepid demand, rate hike bets
YIELDS on term deposit climbed on Wednesday as the longer tenor on offer was undersubscribed, with the market awaiting the Bangko Sentral ng Pilipinas’ (BSP) policy meeting, where it is expected to raise rates anew. Total bids for the central bank’s term deposit facility (TDF) reached P290.814 billion, barely filling the P290-billion offer but below […]
BSP signals further rate hike after Fed raises rates
THE Bangko Sentral ng Pilipinas on Thursday signaled its readiness to further hike interest rates in the country after the US Federal Reserve again imposed another aggressive rate hike.The Fed on Thursday delivered a 75-basis point increase in interest rates to help tame persistent inflation.“The action of the US Federal Reserve, along with the tightening […]
Term deposit yields climb on weak demand, rate hike hints
YIELDS on the term deposits auctioned off by the Bangko Sentral ng Pilipinas (BSP) climbed on Wednesday amid weaker demand and rate hike signals. Demand for papers under the BSP’s term deposit facility (TDF) totaled P247.361 billion on Wednesday, lower than the P310 billion on the auction block and the P321.566 billion in bids logged […]
Peso weakens vs dollar ahead of Fed decision
THE PESO ended weaker versus the dollar on Wednesday on expectations of another aggressive rate hike from the US Federal Reserve. The local unit closed at P55.68 against the dollar on Wednesday, down by 38 centavos from P55.30 on Tuesday, data from the Bankers Association of the Philippines’ website showed. The peso opened the session […]