Crude slips as investor fears of Mideast regional war ease
HONG KONG, China — Oil prices fell Monday as traders hoped a region-wide conflict could still be avoided as Israel said its forces killed dozens of Hamas militants in clashes in Gaza.
Inflation latest news
Further tightening likely next month
MONETARY authorities could raise key interest rates again in November following Thursday's off-cycle hike, Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona Jr. said.
Capitol to sell rice at P20/kilo | The Freeman
CEBU, Philippines — Sugbo-Merkadong Barato (SMB) will soon sell P20 per kilo of NFA rice as well as affordable and fresh harvests that will be made available to the indigent residents of Cebu Province and component cities.
BSP raises policy rate by 25 basis points
MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) raised its benchmark interest rates as a measure to curb inflation.
Supply-side inflation does not need monetary response — NEDA chief
MANILA, Philippines — Supply-side driven inflation does not need a monetary response from the monetary board (MB), National Economic and Development Authority Secretary Arsenio Balisacan said.
Analysts divided on hike; Balisacan warns of impact
KEY interest rates will likely be increased by 25 basis points (bps) should monetary authorities push through with an off-cycle rate hike, analysts said on Wednesday.
Press Release - Bong Go calls for intensified government action amid projected lingering high inflation through 2025; urges increased support for vulnerable sectors
Senator Christopher "Bong" Go has urged various government agencies to amplify and accelerate their interventions for the most affected sectors of society as the country grapples with the economic challenges posed by high inflation rates.
BSP considering off-cycle rate hike as early as tomorrow if inflation data looks ugly
The Governor of Bangko Sentral ng Pilipinas (BSP) [link], Eli Remolona, told reporters yesterday that worries of quickening inflation have put an off-cycle rate hike “on the table”. The Monetary Board isn’t scheduled to meet until November 16th, but Mr. Remolona said if “the data says inflation will go up very significantly” the Monetary Board “may go for an off-cycle hike as early as Thursday”, but that a potential hike could “also happen next week.”MB BOTTOM-LINE: The Philippine Statistics Authority isn’t scheduled to release the CPI data for October until November 7, so I’m not exactly sure what data the BSP would be looking at that could trigger such an aggressive response. If the big concern is the USD/PHP exchange rate, then I’m even more confused because the rate has remained more or less stable in the ?56.5 to ?56.9 range since the beginning of August. Mr. Remolona said that he would defend the ?57/$1 psychological line, but a breach of that level doesn’t appear to be imminent so I’m not sure where the sudden rush to raise rates is coming from. Either way, the BSP appears to be grooming the market to expect a raise, basically at any time over the next three weeks. A rate hike would help support the Philippine Peso’s valuation relative to the dollar, and protect firms that have significant US dollar-denominated debts, but it would also push REIT yields higher and suppress REIT stock prices as a result.