The Bangko Sentral ng Pilipinas forecasts a high of five percent inflation rate for the month of April from four percent in March on the back of increased power, fuel and meat prices.Last month’s higher inflation rate was a steep climb from February’s three percent rate, mainly due to the impact of the Russia-Ukraine war on oil and non-oil commodity international prices. The geopolitical tensions, which will affect global growth, started on Feb. 24.
“Inflation pressures will also emanate from positive base effects. These could be offset by lower prices of fruits and vegetables and the broadly stable peso,” said Diokno. Abenoja said the situation remains uncertain. “In the next meeting come May 19, we will be evaluating again the forecast path for inflation.”
During BSP’s last monetary policy setting exercise, on March 24, it raised the inflation forecast for 2022 to 4.3 percent from 3.7 percent .
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
BSP sees April inflation to accelerate at 4.2% to 5%Inflation or the rate of increase in the prices of goods and services is expected to accelerate further in April, the Bangko Sentral ng Pilipinas (BSP) said Friday.
Source: gmanews - 🏆 11. / 68 Read more »
BSP to slap sanctions on BDO, Union Bank for ‘Mark Nagoyo’ incidentsThe Bangko Sentral ng Pilipinas (BSP) on Thursday said it will impose sanctions on both BDO Unibank Inc. and the Union Bank of the Philippines following the unauthorized fund transfers reported in December 2021.
Source: gmanews - 🏆 11. / 68 Read more »
BSP assures Singaporean investors of sustained PH growthBangko Sentral ng Pilipinas Governor Benjamin E. Diokno reiterated that the monetary policy space will continue to support the economy by balancing inflation and growth outlook to ensure the Philippines’ continued favorable location as an investment site.
Source: manilabulletin - 🏆 25. / 51 Read more »
BSP disqualifies firms for engaging in money service without registrationTwo firms have been disqualified by the Monetary Board of the Bangko Sentral ng Pilipinas (BSP) from securing a license after they were found to have operated money service businesses without registration.
Source: gmanews - 🏆 11. / 68 Read more »
BSP to scale back policy support as economy recovers, Diokno says - BusinessWorld OnlineThe Philippine central bank will take into account the pace of economic recovery as it pursues monetary policy normalization. READ:
Source: bworldph - 🏆 9. / 68 Read more »
BSP bars 2 foreign exchange firms for premature trade | Bianca CuaresmaTHE Bangko Sentral ng Pilipinas (BSP) announced on Thursday that it has disqualified two entities from registering their operations because they engaged in money service business without prior approval from the Central Bank. The Monetary Board is barring Vility Foreign Exchange Services and H&F Foreign Exchange Services from registering with the BSP. Any…
Source: BusinessMirror - 🏆 19. / 59 Read more »