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BSP seen defending peso at below 58:$1
The peso has been a “clear laggard” among Asian currencies against the dollar recently, which may prompt the Bangko Sentral ng Pilipinas (BSP) to defend the local unit and keep it below the 58 to $1 level, according to British banking giant HSBC.....»»
Philippine daily wage insufficient to meet family living expenses
MANILA, Philippines — The nationwide daily wage disparity averaged P762 as of March 2024, with the daily minimum wage averaging only P440, the think tank Ibon Foundation said on Wednesday. Data from the Ibon Foundation showed that the wage gap was computed based on the average daily minimum wage and the average family living wage.....»»
Inflation to average 3.2 percent in first quarter
Inflation is expected to average within the target range of the Bangko Sentral ng Pilipinas in the first quarter, according to First Metro Investment Corp. and University of Asia and the Pacific Capital Markets Research......»»
Peso underperformance likely to continue – MUFG
The Philippine peso may continue to underperform against the dollar this quarter amid the country’s wide current account deficit and expensive foreign exchange valuations, Tokyo-based MUFG Bank said......»»
The skidding peso again?
The peso is skidding again and no one is paying attention anymore......»»
‘BSP ready to mitigate excessive peso volatility’
Monetary authorities are ready to mitigate any “unnecessary movement” and “excessive volatility” in the foreign exchange market as the peso sank to fresh 17-month lows against the dollar, according to Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona Jr......»»
Stocks up, peso breaches 56:$1
The stock market posted slight gains yesterday as it tracked upswing in US markets, while the peso weakened and breached the 56 to $1 barrier......»»
Peso may outperform peer currencies this year
The peso is seen outperforming other currencies in the region this year, but is not likely to strengthen against the dollar due to expectations of delayed rate cuts and the Philippines’ trade deficit, according to British banking giant HSBC......»»
Economy seen growing by 6.2 percent this year
Philippine economic expansion may pick up in the coming months, with growth seen averaging 6.2 percent this year, well within the government’s six to seven percent target, according to BMI Country Risk & Industry Research......»»
BSP seen to cut rates by 100 bps this year
The Bangko Sentral ng Pilipinas is seen slashing interest rates by as much as 100 basis points this year as easing inflation could support the growth of the country’s banking sector in the next two years, Fitch Ratings said......»»
BSP onboards 1st nonbank electronic money issuer
The Bangko Sentral ng Pilipinas (BSP) achieved a significant milestone by welcoming OmniPay, Inc. as the first nonbank electronic money issuer (EMI) participant in its Real Time Gross Settlement (RTGS) payment system, PhilPaSSplus. This move aligns with the National Payment Systems Act and signifies a more inclusive national payment system, allowing nonbank financial institutions to conduct efficient and low-risk funds transfers directly through the central bank. Assistant Governor Mary Anne P. Lim emphasized the BSP's commitment to safeguarding the entire Peso RTGS payment system amidst global trends of diversified participation. With 236 institutions, including various banks and nonbank entities, utilizing PhilPaSSplus for large value transactions and retail payment clearing, the BSP's initiative reflects a broader trend of central banks facilitating direct access for nonbank entities to settlement services. This development comes as international standard-setting bodies work on access guidelines to manage risks in evolving payment systems with new players and financial technologies......»»
Covid lowered life expectancy by 1.6 years worldwide — study
COVID-19 caused the average life expectancy of people worldwide to fall by 1.6 years during the first two years of the pandemic, a more dramatic decline than previously thought, a major study said Tuesday. This marked a sharp reversal during a decades-long rise in global life expectancy, according to hundreds of researchers sifting through data.....»»
‘High level of Phl economic performance despite…’
From 2010 to the present – minus the worst year of the lockdown period of the pandemic in 2019 – Philippine economic growth performance has been consistently high, at an average of 6.4 percent......»»
Filipino children get access to potable water thanks to innovative powdered mixture
With an average of 20 typhoons visiting the Philippines each year, rural and urban communities sustain significant damage to their sources of drinking water, including waterways and deep wells......»»
Completion of new projects boosts ALLHC’s hopes this year
The completion of new projects is seen boosting the financial performance of AyalaLand Logistics Holdings Corp. (ALLHC) this year after lower revenues pulled down the company’s earnings in 2023......»»
Robust P400 billion bond listings seen this year
The Philippine Dealing & Exchange Corp. (PDEx) is optimistic this year’s domestic bond listings target will be attained as the corporate bond market is off to a good start......»»
Domestic trade expected to improve this year
Domestic trade is seen improving this year on expectations of strong economic activity and continued slowdown in inflation, according to economists......»»
Vehicle sales seen to reach 500,000 units this year
Vehicle sales in the country may hit 500,000 unit sales this year, driven by new models and production as well as better economic performance......»»
Double-digit growth in bank lending seen this year
The Philippine banking sector is expected to book double-digit growth in loan disbursements this year on the back of robust economic growth, according to BMI Country Risk & Industry Research......»»
Data centers seen to boom this year
A unit of Globe Telecom Inc. said the data center business in the Philippines would boom this year in response to the growing demand for information storage worldwide......»»