Business optimism dips; consumers less gloomy
BUSINESS optimism fell in the third quarter while consumer sentiment became slightly less negative, the Bangko Sentral ng Pilipinas (BSP) reported on Friday.
Inflation latest news
China to control half the world's hydrogen electrolyser capacity
PARIS, France — By the end of 2023, China will control half the world's installed capacity of electrolysers for producing low-carbon hydrogen amid a slowdown in new projects due to inflation, according to an International Energy Agency report released Friday.
BSP follows the US Federal Reserve, holds interest rates steady
The Bangko Sentral ng Pilipinas (BSP) [link] announced yesterday, after the market close, that it would hold interest rates steady for September. This followed the overnight decision of the US Federal Reserve to do the same. The BSP’s Governor, Eli Remolona, said that the latest BSP projections “show a slightly higher inflation path”, but that inflation is still projected by the BSP to “revert to the 2 to 4 percent target range by Q4 2023”. Mr. Remolona qualified this projection, saying that the stated timeline applies “in the absence of further supply-side shocks.” While the BSP Governor said that any rate cuts are “off the table” for this year, he could not say the same for further rate hikes coming as soon as the Monetary Board’s next meeting in November.
Volcanic smog detected in Taal, health advisory issued
MANILA, Philippines (Updated 9:47 a.m.) — The Philippine Institute of Volcanology and Seismology (Phivolcs) issued a warning on Friday as it monitored the presence of volcanic smog or vog at Taal Volcano in Batangas, causing concerns about potential health risks and harm to the environment.
BSP holds rates steady
MANILA, Philippines — Monetary authorities are expected to deliver a rate hike in November after maintaining a hawkish pause for four straight rate-setting meetings, according to Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona Jr. Remolona, who also chairs the central bank’s Monetary Boar
US Fed keeps interest rate unchanged between 5.2%-5.5%
ISTANBUL – The US Federal Reserve skipped an interest rate increase Wednesday, as widely expected, and kept its federal funds rate unchanged between the 5.25 percent and 5.5 percent target range.
High domestic liquidity results in full award of BSP’s TDF
MANILA – The demand for the Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF) surpassed monetary authorities’ expectations and rates of both the seven-day and 14-day tenors fell.
Fed to move 'carefully' in determining monetary firming: Powell
ISTANBUL – US Federal Reserve Chair Jerome Powell said Wednesday the central bank will move “carefully” in determining the extent of monetary policy tightening based on future macroeconomic data.