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YIELDS on term deposits slightly recovered on Wednesday amid improved government spending and market anticipation for yet another rate cut from the US Federal Reserve.
THE Department of Finance (DoF) said rice import tariffs have totaled P15 billion, ensuring a surplus after the Rice Competitiveness Enhancement Fund (RCEF) is provided P10 billion by law, which the government could deploy for aid to farmers.
ISSUANCE of the national ID will start in April, providing free access to a universally-recognized government identification card that is expected to make opening bank accounts easier and increase financial inclusion, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said.
THE COUNTRY’S balance of payments (BoP) sustained a surplus for the third straight month — though the smallest amount in that period — turning around from a year-ago deficit, the Bangko Sentral ng Pilipinas (BSP) reported on Friday.
FOREIGN portfolio investments -- also called “hot money” due to the ease by which these funds enter and leave the economy -- posted a net outflow for the second straight month in September, though by a smaller amount from the preceding month and a year ago, the Bangko Sentral ng Pilipinas (BSP) reported on Thursday.
THE Philippines is still on track to meet its target economic growth rate of 6-7% either in the second half of 2019 or in 2020 assuming the 2020 Budget is passed on time and that the Bangko Sentral ng Pilipinas (BSP) eases rates as expected, the Bank of the Philippine Islands ( BPI) said.
THE INTERNATIONAL MONETARY FUND (IMF), which on Tuesday slashed its Philippine economic growth projections further to 5.7% for this year and to 6.2% for 2020, nevertheless sees gross domestic product (GDP) expansion picking up this semester on the back of improved government spending, Yongzheng Yang, IMF resident representative to the Philippines, said in an e-mail on Wednesday.
MONEY SENT HOME by overseas Filipino workers (OFW) grew for the second straight month in August -- by a slower pace than in July, although it was still a turnaround from the year-ago slump -- according to data the Bangko Sentral ng Pilipinas (BSP) released on Tuesday.
THE BANGKO SENTRAL ng Pilipinas (BSP) has moved to make local bonds issued by banks and quasi banks (QBs) more attractive to investors by reducing the reserve requirement rate (RRR) for such debt by 300 basis points from six percent currently, effective Nov. 1, according to an official statement on Tuesday.
THE BANGKO SENTRAL ng Pilipinas (BSP) is set to circulate a new version of the five peso coin to address confusion with other New Generation Currency (NGC) coins as well as a new P20 coin.
THE PESO inched higher against the dollar on the back of risk-on sentiment as the first phase of trade negotiations between the United States and China went well, with Beijing vowing to buy $50 billion worth of agricultural products from the world’s largest economy.
NET INFLOW of foreign direct investments (FDI) — which point to long-term capital that generate jobs and transfer technologies — fell by 41% in July, with Bangko Sentral ng Pilipinas (BSP) governor Benjamin E. Diokno attributing this to the overall global economic slowdown and lingering uncertainty over the government’s tax reform program.
THE PESO climbed further on Friday on the back of optimism on a trade deal between the United States and China.
THE Bangko Sentral ng Pilipinas (BSP) reiterated its position that the exit of Philippine Offshore Gaming Operators (POGOs) will have no significant effect on the economy.