THE PESO weakened versus the greenback for a third straight day on Thursday on safe haven demand as the market awaits the release of US inflation data, which could dictate the pace of the Federal Reserve’s tapering. The local unit closed at P47.765 per dollar on Thursday, shedding 3.4 centavos from its P47.731 finish the […]
Tag: inflation
Peso strengthens after steady May inflation reading
THE PESO strengthened against the dollar on Friday after May inflation steadied at 4.5%. The peso closed at P47.75 against the dollar Friday after finishing Thursday at P47.825, according to the Bankers Association of the Philippines. Week-on-week, the peso strengthened from its P47.80 close on May 28. Since the start of 2021, the peso has appreciated […]
Peso up on easing COVID-19 cases
THE PESO rose versus the dollar amid a steady drop in coronavirus cases. — BW FILE PHOTO THE PESO strengthened against the dollar on Monday amid easing coronavirus disease (COVID-19) cases and expectations of steady inflation last month. The local unit closed at P47.695 versus the dollar on Monday, strengthening by 10.5 centavos from Friday’s […]
Inflation likely settled at 4-4.8% in May — BSP
THE CENTRAL BANK expects May inflation to have continued beyond its target range in May, though moderated by lower food prices and a stronger peso. Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said the bank expects headline inflation in May to likely come in at between 4% and 4.8%. Mr. Diokno said the […]
BSP wary of inflation impact of oil prices
THE Bangko Sentral ng Pilipinas (BSP) said it is monitoring the markets for any possible second-round effects resulting from rising oil prices, particularly their impact on inflation, though it called such an eventuality unlikely in the near term. The Monetary Board of the central bank has taken into account the effect of higher oil prices […]
BSP sees inflation breaching target anew in April
The Bangko Sentral ng Pilipinas (BSP) said inflation likely breached the upper-end of its annual target for a fourth straight month in April due to higher electricity rates and food prices. Inflation during the month likely reached between 4.2% to 5%, BSP Governor Benjamin E. Diokno told reporters in a Viber message. This is above […]
March inflation eases to 4.5%
THE country’s inflation rate has eased to 4.5 percent in March 2021 after five consecutive months of acceleration. This brings the average inflation of the country for the first quarter of 2021 at 4.5 percent, the Philippine Statistics Authority on Tuesday, April 6, 2021, said. The slowdown in inflation at the national level was primarily […]
BSP sees March inflation at 4.2% to 5%
THE central bank continues to see inflation breaching the target range in March, as oil prices rose and the peso weakened against the US dollar. Headline inflation during the month likely settled within 4.2% to 5%, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said in a Viber message to reporters. This is still […]
Yields on gov’t debt rise on inflation
BETS OF faster inflation in the near term as food costs continued to increase pushed yields on government securities (GS) to soar last week. GS yields, which move opposite to prices, went up across the board last week, increasing by an average of 29.99 basis points (bps) week on week, based on the PHP Bloomberg […]
BSP unlikely to raise rates soon
BANGKO SENTRAL ng Pilipinas (BSP) Governor Benjamin E. Diokno on Thursday said policy makers are not inclined to tighten monetary policy yet as they see the uptick in inflation as “temporary,” with pressures coming from the supply side. “Notwithstanding the impact of supply-side factors on the inflation path, we are not inclined to tighten monetary […]
Gov’t fully awards T-bond offer
THE GOVERNMENT fully awarded the reissued Treasury bonds (T-bonds) it offered on Tuesday even as its rate surged on concerns over rising inflation and US Treasury bond yields. The Bureau of the Treasury (BTr) borrowed P30 billion as programmed from the reissued 10-year T-bonds it auctioned off on Tuesday as total tenders reached P50.248 billion, […]
Inflation hits 26-month high in February
Consumer prices rose faster for a fifth straight month to a 26-month high in February as food prices continued to surge, the Philippine Statistics Agency reported on Friday. Preliminary data from the PSA showed headline inflation at 4.7% last month, picking up from 4.2% in January 2021 and 2.6% in February 2020. The February inflation […]
Peso weakens on expectations of faster inflation
THE PESO weakened versus the greenback on Thursday on expectations that February inflation data to be released on Friday would be faster than last month’s print. The local unit closed at P48.62 per dollar on Thursday, retreating by 14 centavos from its P48.48 finish on Wednesday, data from the Bankers Association of the Philippines showed. […]
Stimulate consumer demand to rescue economy: Neda 7
THE National Economic and Development Authority (Neda) 7 is anticipating more recoveries from Central Visayas’s pillar industries as economic activities are expected to rebound this year. However, the agency noted that the main challenge faced by industry players is in raising consumer demand for increased economic activities to take place. Amid a more relaxed quarantine […]
Central bank keeps rates steady
Inflation is expected to remain elevated in the next few months, the central bank said. Headline inflation hit a two-year high of 4.2% in January, as meat and vegetable prices spiked due to supply shortages. — PHILIPPINE STAR/MICHAEL VARCAS THE CENTRAL BANK on Thursday kept its benchmark interest rate at a record low to support […]
Inflation hits 2-year high on rising food prices
Consumer prices rose faster for the fourth straight month to a two-year record in January after food and transport costs spiked, according to the local statistics agency. The Philippine central bank in a separate statement said inflation could be better tempered through non-monetary policies. Headline inflation quickened to 4.2% last month, faster than 3.5% in […]
Local shares rise on ratification of CREATE bill
BW FILE PHOTO SHARES closed higher on Thursday after the ratification of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) bill and ahead of the release of January inflation data. The 30-member Philippine Stock Exchange index (PSEi) improved 44.29 points or 0.64% to finish at 6,903.75, while the broader all shares index rose 22.07 […]
BSP sees benign inflation until 2022
Officials have recognized the African Swine Fever continues to push pork prices higher this month. — PHILIPPINE STAR/MICHAEL VARCAS INFLATION is expected to stay within the target range over the next two years, despite a recent uptick in global oil prices as well as food prices due to supply disruptions caused by typhoons, the central […]