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By Lailany P. Gomez, Manila TimesDESPITE its benign inflation outlook in the medium term, the Philippine central bank sees upside risks given the pending petitions for power and transport fare hikes and the possibility that global commodity prices could turn upward, an official said. “Should...
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BY DARWIN G. AMOJELAR, Manila TimesTHE Philippine central bank is likely to keep its key policy rates in its next meeting this month even as it expects consumer spending to have sustained domestic economic expansion in the second quarter. “There’s no change so far. Given all the developments,...
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THE Philippine central bank said exporters should desist from relying on a weak currency and instead emphasize other competitiveness-enhancing measures so they can cope with the anemic external demand.“Our export sector is very important. We realize their difficulty. However, they should be...
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Local banks have continued to reduce interest rates, indicating that credit access has begun improving, the Bangko Sentral ng Pilipinas (BSP) said. BSP Deputy Governor Diwa Guinigundo said lenders have reduced rates by 172 basis points as of October this year compared with the 200 basis points...
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The Bangko Sentral ng Pilipinas (BSP) said it expects inflation to accelerate in October as the recent typhoons pushed oil and food prices higher. BSP Governor Amando Tetangco Jr. said the BSP has forecasted that inflation—which is the rise in the general level of prices of goods and...
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The Bangko Sentral ng Pilipinas (BSP) expects to meet its inflation target this year despite the recent increase in food prices following a string of typhoons.BSP Governor Amando Tetangco Jr. said, he does not see the typhoons as a threat to the central bank’s inflation goal.“At this point in...
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THE Bangko Sentral ng Pilipinas (BSP) said Typhoon Ondoy might have caused inflation this month to accelerate on rising food prices. BSP Governor Amando Tetangco Jr. said September inflation is likely to range from zero to 0.9 percent, higher than last month’s 0.1 percent.“Higher prices of...
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CONSUMER lending will pick up in the second half due to sustained demand for real estate, cars and credit card use, the Bangko Sentral ng Pilipinas (BSP) said.“Consumer lending continues growing despite the crisis. We expect at least a healthy level, going forward. We’re quite happy with what...
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CONSUMER price increases decelerated to a fresh 22-month low in August, with the Bangko Sentral ng Pilipinas (BSP) saying inflation may have hit the bottom last month.The National Statistics Office (NSO) said inflation fell to 0.1 percent last month from 0.2 percent in July. Price increases...
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The Bangko Sentral ng Pilipinas (BSP) said there is no need for Philippine banks to undergo a US-style stress test as the central bank is already conducting similar test regularly.“We don’t need the [the US] stress test. We don’t have toxic assets,” Nestor Espenilla Jr., BSP deputy...
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