Balance of payments swings to $2.7B deficit in September
DOLLAR outflows ballooned in September to post its widest level in nearly five years, the Bangko Sentral ng Pilipinas (BSP) said, on the back of foreign loan payments and at a time of a weaker peso.
Inflation may fall below 4% in 2019 — BSP
INFLATION could “revert more quickly” to below four percent next year given non-monetary interventions to boost food supply coupled with sound policy actions from the Bangko Sentral ng Pilipinas (BSP), a senior official said.
PHL economy seen resilient amid global volatility
THE Philippine economy should remain resilient despite current volatilities bogging down global markets, although experts noted that a faster infrastructure rollout plus a kinder regime for foreign investments would add to the country’s luster.
PHL banks on solid ground — S&P
PHILIPPINE BANKS will remain stable despite a weakening peso and global market volatility, S&P Global Ratings said, even as it noted that economic growth will be slower than initially expected over the next two years.
LTFRB OK’s bus, jeepney fare hikes
THE LAND TRANSPORTATION Franchising and Regulatory Board (LTFRB) on Thursday approved fare increases for public utility vehicles (PUV), prompting the country’s biggest labor group to press for a wage hike for Metro Manila’s private sector workers at a time of successive multiyear-high monthly inflation rates.
Government, business exchange notes on dev’t imperatives
THE GOVERNMENT on Thursday renewed its call on private businesses to deepen their participation in infrastructure and technology projects.
DoF: less pressure to put off oil tax hike
THERE MAY BE less pressure for the government to press on with its stated commitment earlier this week to put off an oil excise tax hike set in January amid signs that Dubai crude price -- Asia’s benchmark -- could in this final quarter average less than the $80 per barrel (/bbl) trigger price under the law for automatic suspension, the Department of Finance (DoF) hinted in a bulletin on Wednesday.
Competition body fines Grab, Uber P16 million
THE PHILIPPINE COMPETITION COMMISSION (PCC) has imposed fines totaling P16 million on Grab Philippines (MyTaxi.PH, Inc.) and Uber Philippines for violations of interim measures ordered on April 6 as the watchdog reviewed the companies’ March 25 acquisition deal.
Market unfazed as BSP says Espenilla to take ‘intermittent medical leaves’
BANGKO SENTRAL ng Pilipinas (BSP) Governor Nestor A. Espenilla, Jr. has extended his medical leave until the end of the month, adding that he could take “intermittent” leaves in the future.
Economic execs turn cautious on targets
THE DEVELOPMENT Budget Coordination Committee (DBCC) on Tuesday slashed economic growth and fiscal goals and raised inflation forecasts in the face of tighter credit conditions, rising oil prices and a worsening Sino-US trade row.
Monetary board member says BSP ready to pause tightening
THE BANGKO SENTRAL ng Pilipinas (BSP) may pause its tightening moves should month-on-month inflation show deceleration, a member of the policy-making Monetary Board said, noting that the impending removal of rice import quotas should help prod overall price increases back to target in 2019.
PHL found among most improved in global competitiveness index
THE PHILIPPINES placed fifth among the nine economies of the Association of Southeast Asian Nations (ASEAN) covered by the Global Competitiveness Report 2018-2019, which measures a country’s standing using a set of criteria that determine level of productivity, and 56th globally among 140 economies on the list.
