THE PESO appreciated against the greenback on Tuesday on profit taking as the market awaits clarity on the policies of the next administration following the partial results of the national polls and as oil prices declined.

THE BANGKO SENTRAL ng Pilipinas (BSP) may hike benchmark rates by 75 basis points (bps) this year to tame rising inflation and reduce currency risks following the US Federal Reserve’s tightening, Maybank Economics Research said.

The Philippines peso is in danger of extending this year’s decline as uncertainty over the policies of the front-runner in Monday’s presidential election adds to economic headwinds.

THE peso may strengthen versus the greenback this week as analysts await the release of first-quarter economic growth data, although this could be offset by risk-off sentiment ahead of official election results.

RATES of government securities are expected to rise this week amid the higher-than-expected inflation data in April.

YIELDS on government securities (GS) climbed across the board last week as investors turned cautious following the US Federal Reserve’s latest rate hike and after local April inflation print went above market expectations.

THE country’s dollar buffers slipped as of end-April as the national government paid some of its foreign debt obligations and with the lower valuation of the central bank’s gold reserves.

LENDING GROWTH continued to pick up in March, even as the expansion of liquidity slowed, as the economy reopened further amid declining coronavirus cases.

CHINA Banking Corp. booked a higher net profit in the first three months of 2022 as interest earnings improved and loan loss provisioning declined.

ASIA UNITED Bank Corp.’s (AUB) net profit increased in the first quarter of 2022, backed mainly by the decline in loan loss provisions and improving operating income.

THE CENTRAL BANK will assess if there is still a need to extend the pandemic-driven regulatory relief measures it granted to thrift lenders as the economy recovers.

THIS year’s commemoration of Eid’l Fitr or Feast of Ramadan coincided with World Press Freedom Day on May 3. Muslims worldwide observe this religious holiday to mark the end of Ramadan’s month-long, dawn-to-sunset fasting. It became a national holiday in the Philippines starting 2002.