PHILIPPINE STOCKS eked out gains on Wednesday despite the release of data showing inflation reached a new peak last month. The Philippine Stock Exchange index (PSEi) inched up by 0.87 point or 0.01% to close at 5,988.59 on Wednesday, while the broader all shares gained 9.50 points or 0.29% to end at 3,219.98. Philstocks Financial, […]
Tag: inflation
Peso closes unchanged vs dollar
THE PESO was steady versus the greenback on Wednesday as the September inflation print remained in line with market expectations. The local unit closed at P58.65 per dollar on Wednesday, unchanged from its Tuesday finish, Bankers Association of the Philippines data showed. The peso opened Wednesday’s session stronger at P58.60 versus the dollar. Its weakest […]
Peso may decline vs dollar on expectations of faster Sept. inflation
THE PESO may weaken anew versus the dollar this week amid expectations of faster September inflation. The local unit closed at P58.625 per dollar on Friday, gaining 34.5 centavos from its P58.97 finish on Thursday, Bankers Association of the Philippines data showed. Week on week, the local unit also shed 12.5 centavos from its P58.50 […]
BSP says September annual inflation within 6.6% to 7.4% range
The Bangko Sentral ng Pilipinas (BSP) on Friday said it expects the annual inflation rate for September to stay within the 6.6% to 7.4% range. Inflation for the month is expected to be driven by the increase in electricity rates and prices of key food commodities, as well as by the depreciation of the peso, […]
Peso drops to new all-time low on hawkish Fed
THE PESO closed at a new record low against the dollar for the third straight day after the US Federal Reserve delivered another aggressive rate hike and signaled more increases to bring inflation under control. The local unit closed at P58.49 versus the greenback on Thursday, down by 49 centavos from its P58 finish on […]
Peso rises ahead of US inflation data
THE PESO strengthened against the dollar on Tuesday on market expectations of slower August US consumer inflation. The local unit closed at P56.77 per dollar on Tuesday, gaining nine centavos from its P56.86 finish on Monday, based on data from the Bankers Association of the Philippines. The peso opened Tuesday’s trading session at P56.80 per […]
How much did each commodity group contribute to August inflation?
INFLATION eased to a two-month low of 6.3% in August, as the rise in food and transport costs slowed, the Philippine Statistics Authority (PSA) said on Tuesday. Read the full story.
Core inflation rates in the Philippines
INFLATION eased to a two-month low of 6.3% in August, as the rise in food and transport costs slowed, the Philippine Statistics Authority (PSA) said on Tuesday. Read the full story.
Peso ends at P57:$1 on oil output cut
THE PESO slipped to a new record low versus the dollar on Tuesday on renewed global inflation concerns after petroleum exporting countries said they would cut oil production. The local unit closed at a fresh all-time low of P57 per dollar on Tuesday, inching down by less than a centavo from its P56.999 finish on […]
PHL stocks rebound as inflation eases in August
STOCKS climbed on Tuesday as August inflation came in better than expected, which could indicate that prices are moderating. The bellwether Philippine Stock Exchange index (PSEi) went up by 33.56 points or 0.50% to close at 6,709.60 on Tuesday, while the broader all shares index rose by 9.24 points or 0.26% to 3,550.95. “Philippine shares […]
Peso may rise ahead of inflation data
THE PESO may rebound against the dollar this week as its recent decline and expectations of still-elevated August inflation may prompt the Bangko Sentral ng Pilipinas (BSP) to continue hiking borrowing costs. The local unit closed at a new all-time low of P56.77 on Friday, weakening by 35 centavos from its P56.42 finish on Thursday, […]
Peso sinks to one-month low on hawkish Fed bets
THE PESO hit a one-month low against the dollar on Monday on expectations that the US Federal Reserve will remain hawkish, and amid global inflation concerns. The local unit closed at P56.21 per dollar on Monday, weakening by 28 centavos from its P55.93 finish on Friday, based on data from the Bankers Association of the […]
BSP raises policy rates by 50 bps
By Keisha B. Ta-asan THE BANGKO SENTRAL ng Pilipinas (BSP) raised its benchmark interest rate by 50 basis points (bps) on Thursday, and signaled it has room to further hike rates as it battles inflation. The Monetary Board (MB) increased the overnight reverse repurchase rate by 50 bps to 3.75%, as expected by 13 out […]
Peso weakens on hawkish signals from US Fed
DESPITE the Bangko Sentral ng Pilipinas (BSP) delivering a rate increase on Thursday, the peso continued to weaken against the dollar after the US Federal Reserve’s hawkish signals to tame inflation. The local unit closed at P55.888 per dollar on Thursday, shedding 2.80 centavos from its P55.86 finish on Wednesday, based on Bankers Association of […]
BSP may raise rates by 125 bps more this year as inflation has yet to peak
THE Bangko Sentral ng Pilipinas (BSP) may hike its key interest rates by another 125 basis points (bps) this year, beginning with a 50-bp hike next week, to curb stubborn inflation, Nomura Global Markets Research said. Nomura said in a report authored by research analysts Euben Paracuelles and Rangga Cipta that with inflation yet to […]
Yields on gov’t debt drop on faster July inflation
YIELDS on government securities (GS) traded in the secondary market declined last week following the result of the 3.5-year bond auction and as July headline inflation hit a near four-year high. Bond yields, which move opposite to prices, fell by an average of 17.03 basis points (bps) week on week, according to the PHP Bloomberg […]
July inflation rose 6.4%, highest since October 2018
Headline inflation quickened to its fastest pace in nearly four years in July, mainly due to soaring prices of food and higher transport costs. Preliminary data from the Philippine Statistics Authority (PSA) showed the consumer price index (CPI) at the national level climbed 6.4% year on year in July, from 6.1% in June and 3.7% […]
BSP ready to act as inflation seen below 4% in 2023
MANILA – The governor of the Philippine central bank on Friday reiterated its readiness to act to combat inflation, which it said could fall below 4% next year. At a business forum, Bangko Sentral ng Pilipinas (BSP) Governor Felipe M. Medalla said there was a chance for inflation to return within the central bank’s 2-4% […]
July inflation zooms to 6.4%, highest in nearly 4 years
Headline inflation went up to its highest in nearly four years in July due to faster increases in food and transport items. Preliminary data from the agency showed consumer price index climbed by 6.4% year on year in July from 6.1% in June and 3.7% a year ago. This was higher than the 6.2% median […]
Fed officials stay resolute on need to make policy more restrictive
A TRIO of US Federal Reserve officials from across the policy spectrum signaled on Tuesday that they and their colleagues remain resolute and “completely united” on getting US interest rates up to a level that will more significantly curb economic activity and put a dent in the highest inflation since the 1980s. Moreover, one of […]