Peso tumbles to P55-per-dollar level as headline inflation surges in Jan.

THE PESO sank to the P55-per-dollar level on Tuesday as January headline inflation was faster than expected and amid hawkish signals from the US Federal Reserve. The local currency closed at P55.085 versus the greenback on Tuesday, declining by 69.5 centavos from Monday’s P54.39 finish, data from the Bankers Association of the Philippines showed. The […]

PSEi tracks Wall Street’s rise before Fed decision

PHILIPPINE STOCKS rebounded on Wednesday, tracking Wall Street’s climb ahead of the US Federal Reserve’s policy decision and despite continued worries over elevated inflation that could slow down consumer spending. The benchmark Philippine Stock Exchange index (PSEi) surged by 242.51 points or 3.57% to close at 7,035.76 on Wednesday, while the broader all shares index […]

Peso down on inflation bets

THE PESO dropped further against the dollar on Tuesday after the Bangko Sentral ng Pilipinas (BSP) said inflation likely remained elevated in January. The local currency closed at P54.64 versus the greenback on Tuesday, declining by 9.5 centavos from Monday’s P54.545 finish, data from the Bankers Association of the Philippines’ website showed. The peso opened […]

Farm modernization, more industry, services trade seen key to addressing inflation

By Keisha B. Ta-asan, Reporter THE GOVERNMENT needs to modernize its farms or generate more trade from industry and services to offset a food import policy if it is to adequately address inflation, analysts said. Leonardo A. Lanzona, an economics professor at the Ateneo De Manila, said the government needs to act decisively to bring […]

BSP notes improvement in accuracy of household inflation views

THE Bangko Sentral ng Pilipinas (BSP) said household estimates of inflation have been improving in accuracy since 2014, possibly influencing monetary policy because household expectations are a factor in policy decisions. In an economic newsletter written by Alan Chester T. Arcin and Michael Lawrence G. Castañares, the BSP’s Department of Economic Research said household views […]

Monetary Board flags more rate hikes in Dec. meeting minutes

THE MONETARY Board signaled its readiness to continue raising benchmark interest rates if inflation persists, putting it at odds with other central banks which have indicated their intention to slow the pace of monetary tightening, according to the minutes of the board’s December meeting.  When the board met last month to weigh another rate increase, […]

Confidence in rising incomes, inflation worries among the main findings of consumer survey

HOPES for rising incomes this year as well as concern over rising inflation were the main findings of a survey on consumer sentiment conducted by TransUnion, a US credit reporting agency. “Consumers’ mixed sentiments reflect the complex dynamics facing the Philippines along with many other nations, as the world continues to recover from more than […]