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Senator Win Gatchalian urged the country's economic managers to focus on addressing inflation for the bottom 30% of income households or the poorest of the poor.
LARGO, United States — Joe Biden and Kamala Harris made an upbeat show of unity Thursday as they held their first joint public event since Harris replaced the president as the Democratic Party's candidate in November's election.
The Monetary Board of the Bangko Sentral ng Pilipinas (BSP) [link] decided to cut interest rates by 25 basis points to 6.25% (from 6.50%). This is the first rate cut since 2020, and the first time the interest rate has changed in any way (up or down) since October of last year. The BSP’s statement on the cut said that its inflation outlook is “supported by well-anchored inflation expectations over the policy horizon”, and that the “balance of risks to the inflation outlook continues to lean toward the downside for 2024 and 2025.” The downside risk to inflation (that inflation will be lower than projected) is “linked mainly to lower import tariffs on rice”. The BSP concluded as follows: “With inflation on a target-consistent path, the current macroeconomic outlook supports a calibrated shift to a less restrictive monetary policy stance. Nonetheless, monetary authorities remain mindful of lingering upside risks to prices.”
MANILA, Philippines — The China Coast Guard (CCG) is not interested in enforcing fisheries laws if potential violators are Chinese – at least judging from its treatment of maritime militia vessels, which were spared from routine inspection at sea, Philippine Coast Guard (PCG) Commodore Jay Tarriela said yesterday.
MANILA, Philippines —The Banko Sentral ng Pilipinas (BSP) on Thursday announced that it reduced key policy rates by 25 basis points (bps), going from 6.50% down to 6.25%.
HONG KONG, China — Asian markets mostly mirrored positive strides on Wall Street in early trade Thursday, as easing US consumer inflation buoyed hopes that a big interest rate cut was around the corner and economic growth in Japan outpaced expectations.
MANILA, Philippines — Senate Minority Leader Aquilino Pimentel III on Tuesday has questioned the impact of inflation on the national government’s budgeting.
The British Chamber of Commerce Philippines (BCCP) identifies the upcoming decision of Bangko Sentral ng Pilipinas (BSP) on interest rate cut a ‘tough call’ at its upcoming policy meeting on Aug. 15, 2024, citing the recent numbers on GDP growth and uptick on headline inflation.