The central bank also continued to signal gradual policy normalization despite the Philippine peso weakening against the US dollar to a more than 16-year low.
He said the BSP raised its average inflation forecast for this year to 5%, from 4.6% previously, exceeding its 2%-4% target band. After the BSP’s announcement, the Philippine peso sank to P54.70 versus the US dollar, the peso’s worstThe Philippine Stock Exchange index also closed 1.66% down to 6,065.23 on Thursday, before the BSP decision.ation is expected to average 5.6% in the second half of the year, citing May ination and higher assumptions for global oil and non-oil prices as well as the approved provisional jeepney fare hike.
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 studying 3 key market infra technologies - BusinessWorld OnlineTHE Bangko Sentral ng Pilipinas (BSP) is exploring three new technologies that will be crucial to the development of new financial market infrastructure (FMI), making the Philippines one of the more open jurisdictions in the region to new financial tools, the Asian Development Bank (ADB) said.
Source: bworldph - 🏆 9. / 68 Read more »
Council calls higher interest rates, oil prices key risks to financial stability - BusinessWorld OnlineThe Financial Stability Coordination Council (FSCC) said rising interest rates and oil prices are the key external risks to financial stability and to the economic recovery. READ:
Source: bworldph - 🏆 9. / 68 Read more »
BSP studying 3 key market infra technologies - BusinessWorld OnlineTHE Bangko Sentral ng Pilipinas (BSP) is exploring three new technologies that will be crucial to the development of new financial market infrastructure (FMI), making the Philippines one of the more open jurisdictions in the region to new financial tools, the Asian Development Bank (ADB) said.
Source: bworldph - 🏆 9. / 68 Read more »
PHL growth outlook buoyed by reopening, gov’t investment plans; food inflation a drag - BusinessWorld OnlineThe growth outlook for the Philippines has improved due to the reopening of the economy and the incoming government’s apparent commitment to significant investment, but food inflation threatens to dampen the recovery, analysts said. READ:
Source: bworldph - 🏆 9. / 68 Read more »
Manila Water upgrades Balara Treatment Plant 2 - BusinessWorld OnlineManila Water Co., Inc. has installed filter technology in its Balara Treatment Plant 2 (BTP 2) to reduce its chemical consumption and optimize operations, the listed water provider said on Wednesday. READ:
Source: bworldph - 🏆 9. / 68 Read more »
Philippine tourism industry seen to reach pre-pandemic levels by 2024 - BusinessWorld OnlineTHE DOMESTIC tourism sector is expected to reach pre-pandemic levels by 2024, although near-term challenges such as high inflation may affect demand, according to industry stakeholders.
Source: bworldph - 🏆 9. / 68 Read more »