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Tag: Luz Wendy T. Noble
THE peso strengthened Friday as market sentiment improved following the passage of a substantial US stimulus package as well as policy easing by the Federal Reserve.
THE PHILIPPINES still has room for a more aggressive fiscal response to blunt the impact of the coronavirus disease 2019 (COVID-19) pandemic, according to credit raters who said that the expected widening of the budget deficit will not affect the country’s credit standing as long as the debt rise is temporary.
THE PESO appreciated against the greenback on Thursday, reflecting gains in the local stock market and better market sentiment amid measures unveiled by the US government to mitigate the impact of the coronavirus disease 2019 (COVID-19).
A WIDER COVID-19 quarantine and more restrictive lending conditions worldwide pose the main risks to the Philippine economy, threatening to bring growth to their lowest levels since 2011, Fitch Solutions Macro Research said.
THE PESO depreciated against the greenback on Wednesday as oil prices corrected and due to dollar demand from corporate clients.
THE Bangko Sentral ng Pilipinas (BSP) will slash the reserve requirement ratio (RRR) of universal and commercial banks by 200 basis points (bps) to release additional liquidity into the market amid the coronavirus disease 2019 (COVID-19) outbreak.
THE COMPLAINT filed against Rizal Commercial Banking Corp. (RCBC) and a local casino by Bangladesh Bank in relation to the 2016 heist has been junked by a US court as it cited the failure of the petitioner to state a federal racketeering claim and as the court refused to exercise jurisdiction over all other state law claims by the petitioner.
THE GOVERNMENT should abandon its growth targets and focus resources on mitigating the impact of COVID-19 (coronavirus disease 2019) via emergency financial and non-financial aid for affected households and businesses, according to an Ateneo de Manila University think tank.
THE GOVERNMENT could miss its growth target this year after Luzon was locked down to contain a coronavirus disease 2019 (COVID-19) outbreak, even as growth is expected to pick up in the third quarter and recovery by 2021, according to Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno.
THE PESO could find support from better market sentiment this week, as governments around the world announced more measures to help cushion the impact of the coronavirus disease 2019 (COVID-19) pandemic.
OUTSTANDING external debt rose 1.1% quarter-on-quarter at the end of 2019, according to the Bangko Sentral ng Pilipinas (BSP), with debt levels remaining within prudent levels by government norms.
MORE foreign capital entered than left the country in February to yield a net inflow of $40 million in February, despite the brewing volatility over the spread of the coronavirus disease (COVID-19).
THE country’s current account deficit shrank to $464 million in 2019, due to “lower trade in goods deficit combined with higher net receipts in the trade in services, and in the primary and secondary income accounts, the Bangko Sentral ng Pilipinas said on Friday.
THE CENTRAL BANK is giving additional regulatory to financial institutions, including the imposition of a higher single borrower’s limit (SBL), removing penalties for reserve deficiencies, and providing leeway for some notification requirements amid disruptions caused by the coronavirus disease 2019 (COVID-19).
THE Bangko Sentral ng Pilipinas (BSP) fired a widely expected rate cut on Thursday to shield the economy against the impact of the coronavirus disease 2019 (COVID-19) outbreak, joining central banks around the world that have eased to help boost activity amid an expected slowdown.
THE PESO weakened anew against the greenback on Thursday as players anticipated a rate cut from the central bank and amid risk-off sentiment due to the sell-off in the stock market.
A RECESSION across Asia-Pacific is “now guaranteed” amid an unprecedented disruption in the flow of people, trade and supply chains in large economies like China and the United States, with emerging countries in the region like the Philippines also likely to see spillover effects, according to S&P Global Ratings.
RESIDENTS OF Luzon and the National Capital Region will be given a three-month payment extension to repay loans from the Home Development Mutual Fund (Pag-IBIG Fund) as the region has been placed under enhanced community quarantine, which has forced some businesses to shut down, leaving employees with no wages.
THE PESO bounced back on Wednesday after a trading halt on the back of positive market sentiment, with the United States baring fiscal strategies to cushion the impact of the coronavirus disease 2019 (COVID-19) outbreak.
BANKS WILL CONTINUE to provide basic financial services amid the enhanced community quarantine in the whole of Luzon, a central bank official said, while assuring a bank run is unlikely even as people look to hold cash during the lockdown period.
THE Department of Health on Tuesday reported 45 new infections from the novel coronavirus, bringing the total to 187.
BANGKO SENTRAL ng Pilipinas (BSP) Governor Benjamin E. Diokno on Monday said they may consider a 50-basis point (bp) policy rate cut at its meeting on Thursday, after the US Federal Reserve’s emergency rate cut triggered policy easing by other central banks as they try to soften the blow of the coronavirus disease 2019 (COVID-19) to the global economy.
THE GOVERNMENT partially awarded the P20 billion in Treasury bills (T-bills) it offered on Monday, with the market veering away from the three-month papers as they opt to hold cash due to heightened fears over the escalation of the coronavirus disease 2019 (COVID-19) outbreak in the Philippines and its impact on the economy.
THE PESO dropped on Monday and settled at the P51-per-dollar level for the second straight day as more investors opted for safer havens amid fears due to the spread of the coronavirus disease 2019 (COVID-19), which has now triggered an “enhanced community quarantine” for the whole of Luzon island.
THE Bangko Sentral ng Pilipinas (BSP) may cut rates anew this week following the move of global central banks to ease policy amid fears of slower economic growth and lower demand for key commodities including oil due to the coronavirus disease 2019 (COVID-19) pandemic.