PHILIPPINE SHARES declined further on Thursday after the US Federal Reserve raised borrowing costs anew overnight and gave a hawkish outlook on rates, with the Bangko Sentral ng Pilipinas (BSP) also delivering another increase at its own policy meeting. The benchmark Philippine Stock Exchange index (PSEi) went down by 39.98 points or 0.63% to close […]
Tag: rates
Analysts’ expectations on policy rates (Sept. 2022)
THE BANGKO SENTRAL ng Pilipinas (BSP) is likely to continue its rate hike cycle on Thursday, with several analysts forecasting a 50-basis-point (bp) increase as the US Federal Reserve is also expected to further tighten policy this week. Read the full story.
DoE’s Lotilla says gov’t involvement in power will not bring rates down
ENERGY Secretary Raphael P.M. Lotilla told legislators that electricity rates will not fall if the government re-enters the power business. “If Congress brings back the state into the power sector… (the government) will have to fund the maintenance of the power sector,” he said at the House committee on energy on Thursday. At the hearing, […]
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.
BPI expects PHL to avoid recession with region-leading growth
THE PHILIPPINES is likely to be bypassed by the wave of recessions expected to hit developed countries and lead Southeast Asia in terms of growth this year, the Bank of the Philippine Islands (BPI) said in a report. “We don’t think there will be a recession in the Philippines,” BPI Lead Economist Emilio S. Neri, […]
T-bill bids rejected as market asks for higher rates
THE BUREAU of the Treasury (BTr) rejected all bids for its offer of Treasury bills (T-bills) as investors asked for higher yields as the US Federal Reserve chief said US rates could remain elevated for longer. The BTr did not award any T-bills on Tuesday even as tenders reached P17.289 billion, higher than the BTr’s […]
Peso weakens vs dollar ahead of Fed minutes, central bank meet
THE PESO retreated versus the greenback on Wednesday as market players expect the US Federal Reserve to remain hawkish to keep rising prices under control. The local unit closed at P55.86 per dollar on Wednesday, depreciating by three centavos from its P55.83 finish on Tuesday, based on data from the Bankers Association of the Philippines. […]
Treasury fully awards reissued bonds
THE GOVERNMENT fully awarded the reissued 10-year Treasury bonds (T-bonds) it auctioned off on Tuesday at a lower average rate amid robust demand, which led it to open its tap facility. The Bureau of the Treasury (BTr) raised P35 billion as planned from its offer of reissued 10-year securities that have a remaining life of […]
Rates of T-bills, bonds to climb
RATES of government securities (GS) on offer this week are expected to rise as the Philippine central bank is seen to be aggressive in its next policy meeting as inflation remains elevated. The Bureau of the Treasury (BTr) will offer P15 billion in Treasury bills (T-bills) on Monday, made up of P5 billion each in […]
Revenue bills like digital services VAT lead House priorities
THE House of Representatives will prioritize revenue measures like a 12% value-added tax (VAT) on digital transactions as well as ease of paying taxes programs, a senior legislator said on Thursday. Albay Rep. Jose Ma. Clemente S. Salceda, who heads the House Ways and Means Committee, told BusinessWorld via Viber in reply to a query […]
Gov’t makes full award of fresh 3.5-year bonds on strong demand
THE GOVERNMENT fully awarded the fresh 3.5-year Treasury bonds (T-bonds) it auctioned off on Tuesday amid strong demand that led it to open its tap facility to offer another P10 billion in the papers. The Bureau of the Treasury (BTr) on Tuesday raised P35 billion as planned from its offer of fresh 3.5-year securities maturing […]
BPI sees loan book growing despite rising rates
BANK of the Philippine Islands (BPI) is bullish on its consumer banking business and expects its loan portfolio to continue expanding despite rising interest rates due to faster inflation. “We are seeing the economy mobilizing and we see this in our loan releases on the consumer side,” BPI Head of Consumer Banking and Executive […]
T-bill, bond rates to move sideways on Fed bets
RATES of government securities on offer this week may move sideways on expectations of a less hawkish US central bank amid recession fears, with longer tenors to attract most of the demand as investors seek higher returns. The Bureau of the Treasury (BTr) will offer P15 billion in Treasury bills (T-bills) on Monday, made up […]
Espinoza: Water rates increase on hold?
Last week, the Metro Cebu Water District (MCWD) announced its plan to impose a 70 percent increase in water rates beginning on July 1, 2023. MCWD Chairman Joey Daluz issued the announcement on the water rates increase that shocked not only the water consumers served by MCWD, but also Cebu City Mayor Michael “Mike” Rama.In […]
Visayan Electric power rates up
THE price of fuel in the world market and the peso-dollar exchange rate have pushed residential electricity rates up by P0.65 for the July-August billing month of Visayan Electric Company customers.The average rate for residential customers is now P14.35 per kilowatt hour (kWh) or a P130 hike for customers with an average monthly electricity consumption […]
Diokno says ‘too early to tinker’ with TRAIN, CREATE reforms
FINANCE Secretary Benjamin E. Diokno said it is too early to make adjustments to recent tax reform laws, signaling his reluctance to back a House Bill seeking to provide tax relief for the poor and middle class. “We just amended both personal income tax and corporate income tax. Let’s give the new tax system a […]
Headline inflation rates in the Philippines
INFLATION climbed to its highest level in nearly four years in June, further eroding the purchasing value of the peso to a record low, the Philippine Statistics Authority (PSA) said on Tuesday. Read the full story.
BTr fully awards reissued bonds at higher rates
THE GOVERNMENT fully awarded its offer of reissued seven-year Treasury bonds (T-bonds) on Tuesday at higher rates on expectations of a hawkish move from the Bangko Sentral ng Pilipinas (BSP) as June headline inflation was at a near four-year high. The Bureau of the Treasury (BTr) raised P35 billion as planned from its auction of […]
Milestone of THz Communication
TOKYO, Jun 29, 2022 – (JCN Newswire via SEAPRWire.com) – Scientists from a project coordinated by Technische Universitat Braunschweig in Germany and Waseda University in Japan with ten other partners from five countries have succeeded for the first time worldwide in developing a bidirectional THz radio link that can be connected as a “backhaul” to […]
Employers urged to comply with new wage rates in Central Visayas
THE Department of Labor and Employment (Dole) has urged all employers to comply with the new minimum wage rates applicable in Central VisayasNew wage rates for private workers (Wage Order No. ROVII-23) and domestic workers (ROVII-D.W.No. 03) in the region became effective on June 14.According to Labor Undersecretary and Dole 7 concurrent regional director Victor […]