The Monetary Board is expected to raise interest rates by only 25 basis points in its next policy meeting, according to a local private think tank, FMIC-UA&P Capital Markets Research. Know more:
THE Monetary Board is expected to raise interest rates by only 25 basis points in its next policy meeting, according to a local private think tank, First Metro Investment Corp.-University of Asia and the Pacific Capital Markets Research.
“Consistent with our forecast that Q1 inflation will average 8.1 percent, the Monetary Board increased policy rates by 50 bps to 6 percent in its February 16 meeting to keep inflation expectations in check, and minimize second round effects,” FMIC-UA&P Capital Markets Research said. Overall, the think tank said the Philippine economy is expected to “weather the global recession relatively unscathed” this year on the back of a positive growth in jobs and increased infrastructure spending.
Other economic indicators such as imports are expected to ease in the first quarter while exports could fall behind due to the recession. This, however, will keep the country’s trade deficits above $4 billion per month. The region’s emerging and developing economies are seen to grow 5.3 percent this year and drive the dynamism in the region. These economies, the IMF added, are hitting their stride as pandemic supply-chain disruptions fade and the service sector booms.
The IMF was also optimistic that inflation is easing and will soon go back to central bank targets. Currently, however, core inflation is “proving more persistent” than headline inflation.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Board of Investments starts plant-based food industry roadmap work | Andrea E. San JuanTHE Board of Investments (BOI) said it has commenced the development of the Philippine Plant-based Food Industry Roadmap, starting with an industry appraisal study. In a statement on Thursday, the investment promotion agency unveiled that it has partnered with the University of the Philippines (UP) through the College of Home…
Read more »
Lawmaker bats for abolition of Optical Media BoardMANILA, Philippines — Senator Jinggoy Estrada is pushing for the abolition of the Optical Media Board (OMB), saying it is no longer relevant. Estrada lodged Senate
Read more »
MTRCB clarifies: Toni Fowler, Freshbreed's 'MPL' didn't receive SPG rating from the BoardToni Fowler and Freshbreed's 'MPL' music video did not receive a Strong Parental Guidance (SPG) rating from the Movie and Television Review and Classification Board (MTRCB), despite one cast member's claim.
Read more »
Jinggoy Estrada wants Optical Media Board abolishedSenator Jinggoy Estrada has filed a bill seeking to abolish the Optical Media Board (OMB). The lawmaker has filed Senate Bill 1904 as he emphasized that OMB monitors and regulates "an already obsolete industry" and the "storage medium and devices under the agency&39;s regulatory control are also practically phased out."
Read more »
Jinggoy: Time to abolish Optical Media Board, it's now irrelevant | Butch FernandezTHE Optical Media Board (OMB) has outlived its purpose and would best be abolished, Senator Jinggoy Ejercito Estrada said on Tuesday as he filed Senate Bill No. 1904. “The significant technological advancements in the media landscape rendered the use of video tapes and compact discs obsolete. Today, movies and television…
Read more »
Two entities barred from securing money service business licenses - BusinessWorld OnlineTHE BANGKO SENTRAL ng Pilipinas (BSP) has disqualified two firms from securing a money service business (MSB) licenses after they were found operating as such without proper registration. A circular letter signed by BSP Deputy Governor Chuchi G. Fonacier dated Feb. 15 said the Monetary Board has disqualified Kidlat Fast Cash, Inc. and Tong’s Money […]
Read more »