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PSE [PSE 175.00, down 0.1%; 69% avgVol] [link] announced that its guidelines for short selling will “take effect immediately”, moving the market “one step closer” to full implementation of short selling on the exchange. The guidelines indicate that the PSE has expanded the shares that are eligible for short selling (PSEi, plus MidCap and DIvY), and that there will be a 10% cap on short interest that will be measured on a per-company basis.
THE World Bank has cut its 2023 growth forecast for the Philippines to 5.6 percent from 6.0 percent, citing persistent high inflation, stringent financial conditions, and a challenging global environment.
The economic team, led by Finance Secretary Benjamin E. Diokno, held the seventh Philippine Economic Briefing (PEB) in Singapore on June 15, 2023 at the Fullerton Hotel to showcase the country’s robust growth and new investment opportunities.
Headline inflation continued to slow down for the fourth consecutive month in May 2023 to 6.1 percent from the 6.6 percent in April. The May inflation rate is within the Bangko Sentral ng Pilipinas (BSP)’s forecast range of 5.8 to 6.6 percent and equal to private analysts’ median estimate of 6.1 percent.
The country’s headline inflation rate slid to 4.7 percent in July 2023, marking the sixth consecutive month of deceleration. This is within the month-ahead forecast range of the Bangko Sentral ng Pilipinas (BSP) of 4.1 to 4.9 percent.
Headline inflation eased for the fifth consecutive month in June 2023 to 5.4 percent, down from 6.1 percent in May and at its lowest level since the 5.4 percent recorded in May 2022. The June inflation rate is within the 5.3 to 6.1 percent forecast range of the Bangko Sentral ng Pilipinas (BSP) and settled below the median estimate of 5.5 percent by private analysts.
The Philippines’ economic team reiterates full support and endorsement of the President’s recent decision to impose a price cap on rice while emphasizing the importance of immediately implementing a comprehensive set of measures aimed at securing long-term stability within the rice market.
MANILA, Philippines — The extent to which Filipinos still trust and approve of President Ferdinand "Bongbong" Marcos Jr. and Vice President Sara Duterte has declined by double digits from June to September, the latest Pulse Asia survey found,