REUTERS THE US Federal Reserve is not trying to engineer a recession to stop inflation but is fully committed to bringing prices under control even if doing so risks an economic downturn, US central bank chief Jerome H. Powell said on Wednesday. “We are not trying to provoke, and I don’t think we will need […]
THE Bangko Sentral ng Pilipinas (BSP) on Thursday hiked its benchmark interest rate by another 25 basis points to temper the country’s surging inflation.BSP Gov. Benjamin Diokno made the announcement in a virtual briefing.The 25 bps hike brought the overnight reverse repurchase rate, used by banks to price loans, to 2.5 percent.The rate hike was […]
THE Philippine peso breached the P54-per-dollar level on Monday, marking the currency’s worst performance since October 31, 2018 when it closed at P53.535:$1.The peso plunged 0.85 percent or 45 centavos on Monday, June 20, to close at 54.005.The local currency’s depreciation against its US counterpart to a fresh three-year low follows the Federal Reserve’s most […]
THE GOVERNMENT partially awarded the reissued Treasury bonds (T-bonds) it offered on Tuesday as investors continued to asked for higher yields as the Bangko Sentral ng Pilipinas (BSP) and the US Federal Reserve said they intend to raise rates anew to tame rising inflation. The Bureau of the Treasury (BTr) raised just P19.551 billion via […]
By Bernadette Therese M. Gadon, Researcher The unemployment rate in April slowed to its lowest since the start of the pandemic as the size of the workforce shrank amid the disruptions caused by the ongoing Russia-Ukraine conflict. Preliminary results of the Philippine Statistics Authority’s (PSA) April round of the Labor Force Survey (LFS) on Friday […]
INFLATION likely surged past 5% in May as food and oil prices continued to climb amid tight global supply, according to analysts. Read the full story.
1 of 5 BW FILE PHOTO FINANCIAL MARKETS could experience another volatility in the near term as major central banks turned hawkish amid inflationary pressures due to the ongoing Russia-Ukraine war, analysts said. In the first three months of the year, the Philippine Stock Exchange index (PSEi) averaged 7,230.08, up by 0.3% quarter on quarter […]
THE government fully awarded the reissued Treasury bonds (T-bonds) it offered on Tuesday as investors asked for higher rates after the central bank hiked borrowing costs and amid expectations of further monetary tightening here and in the United States. The Bureau of the Treasury (BTr) raised P35 billion as planned from the reissued 10-year bonds […]
RATES of government securities on offer this week are expected to increase following the central bank’s decision to hike borrowing costs amid rising inflation. The Bureau of the Treasury (BTr) will offer P15 billion in Treasury bills (T-bills) on Monday or P5 billion each in 91-, 182- and 364-day securities. On Tuesday, it will auction […]
SHANGHAI, May — China cut its benchmark reference rate for mortgages by an unexpectedly wide margin on Friday, its second reduction this year as Beijing seeks to revive the ailing housing sector to prop up the economy. Senior officials have pledged further measures to fight a slowdown in the world’s second-biggest economy, hit by coronavirus […]
THE Monetary Board (MB) decided to raise the interest rate on the Bangko Sentral ng Pilipinas’ (BSP) overnight reverse repurchase facility by 25 basis points (bps) from two percent to 2.25 percent, effective Friday, May 20, 2022.Accordingly, the interest rates on the overnight deposit and lending facilities were raised to 1.75 percent and 2.75 percent, […]
By Lourdes O. Pilar, Researcher YIELDS on government securities (GS) climbed across the board last week as investors turned cautious following the US Federal Reserve’s latest rate hike and after local April inflation print went above market expectations. GS bond prices dropped as yields rose by a week-on-week average of 15.92 basis points (bps), based […]
By Mariedel Irish U. Catilogo, Researcher The country’s unemployment rate in March eased on a monthly basis to its lowest since the start of the coronavirus pandemic due to further loosening of mobility restrictions, but job quality worsened to a four-month high. Preliminary results of the Philippine Statistics Authority’s (PSA) March round of the Labor Force Survey […]
YIELDS on the term deposits of the Bangko Sentral ng Pilipinas (BSP) went up on Wednesday, with market players positioning ahead of an expected hike from the US Federal Reserve and the national elections. Total demand for the term deposit facility (TDF) of the central bank amounted to P296.062 billion on Wednesday, well above the […]
WASHINGTON — The US economy unexpectedly contracted in the first quarter amid a resurgence in coronavirus disease 2019 (COVID-19) cases and a drop in pandemic relief money from the government, but the decline in output is misleading as domestic demand remained strong. The first decrease in gross domestic product since the short and sharp pandemic […]
THE GOVERNMENT partially awarded the reissued Treasury bonds (T-bonds) it offered on Tuesday as investors asked for higher yields on expectations of rate hikes from the US Federal Reserve and the Bangko Sentral ng Pilipinas (BSP). The Bureau of the Treasury (BTr) raised just P17.559 billion via the reissued 10-year T-bonds it auctioned off on […]
RATES of government securities to be auctioned off this week are expected to move sideways with a slight upward bias on expectations of global monetary tightening. The Bureau of the Treasury (BTr) will auction off P15 billion in Treasury bills (T-bills) on Monday, or P5 billion each in 91-, 182-, and 364-day securities. On Tuesday, […]
By Luz Wendy T. Noble, Reporter THE Philippine central bank kept its key interest rate steady for an 11th straight meeting on Thursday, even as it warned that its inflation target might be breached this year amid surging global oil prices due to Russia’s continued invasion of Ukraine. The Bangko Sentral ng Pilipinas (BSP) left […]
THE GOVERNMENT partially awarded the reissued Treasury bonds (T-bonds) it offered on Tuesday as investors asked for higher yields on indications of half-point hikes from the US Federal Reserve. The Bureau of the Treasury (BTr) raised just P15.69 billion via the reissued seven-year T-bonds it auctioned off on Tuesday, less than half the programmed P35 […]
AUSTRALIA’S jobless rate fell to a 13-1/2 year low as the economy added more jobs than expected last month, in a result that’s likely to embolden hawks who are predicting an interest-rate increase as early as June. Unemployment declined to 4% in February, the lowest level since August 2008, Australian Bureau of Statistics data showed on Thursday. […]