PHILIPPINE STOCKS may move sideways this week on cautious trading as investors await the Bangko Sentral ng Pilipinas’ (BSP) policy decision on Thursday and the release of more firms’ financial reports. The benchmark Philippine Stock Exchange index (PSEi) went up by 34 points or 0.49% to close at 6,876.79 on Friday, while the broader all […]
Tag: inflation
PHL growth seen to fall short of target this year
THE PHILIPPINE economy’s growth may fall short of the government target this year, as interest rates may continue to rise amid sticky inflation. In a note dated Feb. 8, ING Bank N.V. Manila Senior Economist Nicholas Antonio T. Mapa said the bank expects the country’s gross domestic product (GDP) to grow by 5% this year, […]
‘Difficult’ to top 2022 growth, but PHL seen outperforming
THE PHILIPPINES will find it difficult to match its performance in 2022, but growth of 5.5% to 6.5% in 2023 will still stand out in the context of a slowing global economy, a senior legislator said. At an economic briefing hosted by the Management Association of the Philippines, Albay Rep. and House ways and means […]
Shares fall on faster-than-expected Jan. inflation
STOCKS continued to decline on Tuesday on faster-than-expected January inflation that fueled expectations of another big rate hike by the Bangko Sentral ng Pilipinas (BSP). The benchmark Philippine Stock Exchange index (PSEi) went down by 55.35 points or 0.79% to close at 6,881.26 on Tuesday, while the broader all shares index dropped by 18.93 points […]
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 […]
Analysts’ January 2023 inflation rate estimates
HEADLINE INFLATION likely cooled in January as weaker demand, the peso’s appreciation against the US dollar, and slower growth in food prices offset the rise in utility rates and pump prices. Read the full story.
PSEi to move sideways ahead of inflation report
THE MAIN INDEX will continue to test the 7,000 level ahead of the release of January inflation data this week, which could set the tone for the Bangko Sentral ng Pilipinas’ (BSP) policy move this month. The benchmark Philippine Stock Exchange index (PSEi) went up by 41.19 points or 0.59% to close at 7,027.38 on […]
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 […]
Citi expects 2023 PHL inflation to average 5.3%
CITIGROUP, INC. (Citi) expects Philippine headline inflation to average 5.3% this year, above the central bank’s 2-4% target, with food prices remaining elevated and subject to further upside due to weather disturbances. “Our expectation for inflation this year is still pretty high at 5.3% on average, before lowering to about 3.3% next year,” Citi Economist […]
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 […]
PHL stocks drop on inflation, rate hike worries
LOCAL SHARES dropped on Tuesday amid worries over inflation and interest rates and as investors await the policy decision of the US Federal Reserve on Wednesday. The bellwether Philippine Stock Exchange index (PSEi) dropped by 177.72 points or 2.54% to close at 6,793.25 on Tuesday, while the broader all shares index lost 69.56 points or […]
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, […]
PSE index declines ahead of US inflation report
STOCKS closed lower on Tuesday, mirroring Wall Street’s decline, ahead of the release of December US consumer inflation data, which could give clues on the US Federal Reserve’s next policy move. The benchmark Philippine Stock Exchange index (PSEi) lost 33.55 points or 0.49% to close at 6,756.69 on Tuesday, while the broader all shares index […]
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 […]
Inflation accelerates to 8.1% in December
By Keisha B. Ta-asan, Reporter INFLATION ACCELERATED to a fresh 14-year high in December, as prices of food, particularly vegetables, surged during the holiday season, the Philippine Statistics Authority (PSA) said on Thursday. Preliminary PSA data showed annual inflation quickened to 8.1% in December, from 8% in November and 3.1% in December 2021. This was […]
HSBC sees Philippines remaining ‘resilient’ as growth slows to 4.4%
HSBC Holdings PLC said on Thursday that it expects Philippine growth to remain “resilient” even as it slows to 4.4% in 2023. “We think that (the) Philippine economy will slow down but it will still be fairly resilient at around 4.4% for 2023. Of course, inflation is still going to be an issue,” HSBC Southeast Asia […]
Stocks rise on slower-than-expected inflation
STOCKS continued to rally on Thursday as December inflation came in below market expectations despite picking up from the November level. The 30-member Philippine Stock Exchange index (PSEi) went up by 42.83 points or 0.63% to close at 6,761.33 on Thursday, while the broader all shares index added 13.38 points or 0.37% to end at […]
PSEi up as factory activity hits 6-month high
PHILIPPINE SHARES continued to rise on Wednesday as local manufacturing activity improved in December, indicating a robust economy. The bellwether Philippine Stock Exchange index (PSEi) surged by 132.49 points or 2.01% to close at 6,718.50 on Wednesday, while the broader all shares index rose by 60.37 points or 1.73% to 3,537.07. “Stocks moved higher as […]