Malacañang Says PBBM Orders Continuation Of Support To Most Vulnerable Sectors

President Bongbong Marcos

Malacañang: “This will be part of government’s key response to rising inflation even as we continue to build on climate action and food security” MALACAÑANG — The Palace said that President Ferdinand “Bongbong” Marcos Jr. has ordered the continuation of support to the most vulnerable sectors through the distribution of cash transfers and fuel discounts … Read more

BSP Says Inflation Could Hit 7.9% This Month

BSP

BSP: “The BSP will continue to monitor closely emerging price developments” BSP — The Bangko Sentral ng Pilipinas said that inflation could surpass 13-year highs this month given the higher commodity prices during the month. On Monday, the central bank projects inflation to settle within the 7.1% to 7.9% range this month, higher than the … Read more

Medalla Says BSP Policy Rate “Still Accommodative”

BSP Governor Felipe Medalla

Medalla: “Despite the normalization of policy settings, our policy rate is still accommodative” BSP Governor Felipe Medalla said that the central bank’s policy rate is “still accommodative” despite the normalization of policy settings. According to him, interest rate environment that still has some room for adjustment as the Bangko Sentral ng Pilipinas (BSP) pledged to … Read more

BSP Says Monetary Board Decides To Hike Policy Rates By 50 Basis Points

BSP

BSP: “The inflation target remains at risk over the policy horizon owing to broadening price pressures.” BSP — On Thursday, the Bangko Sentral ng Pilipinas said that the Monetary Board decided to hike policy rates by 50 basis points (bps) effective August 19. As such, the overnight deposit facility has increased to 3.25%, the overnight … Read more

Benjamin Diokno Says President Bongbong Marcos’ Disbelief At 6.1% June Inflation “Misunderstood”

Finance Secretary Benjamin Diokno

Finance Secretary Benjamin Diokno: “[T]he President’s disbelief at the 6.1% June 2022 inflation rate figure was misunderstood.” BENJAMIN DIOKNO — The Finance Secretary said that President Ferdinand “Bongbong” Marcos Jr.’s disbelief at the 6.1% June inflation rate figure was “misunderstood”. The President appeared to have cast doubt on the report of the Philippine Statistics Authority … Read more

BSP Says Inflation For June 2022 May Peak At 6.5%

BSP

Inflation for the month of June 2022 may peak at 6.5%, according to BSP. BSP — The Bangko Sentral ng Pilipinas said that inflation for the month of June 2022 could hit a high of 6.5% on the back of a weak Philippine Peso versus the United States Dollar and persistent high food prices. On … Read more

BSP Hikes Policy Rates As Inflation Accelerates

BSP

BSP hikes its policy rates by 25 basis points amidst quickening inflation. BSP — The Bangko Sentral ng Pilipinas raised its key policy rates by 25 basis points to 2.25% amidst quickening inflation. The Bangko Sentral ng Pilipinas followed other central banks around the world which have also raised interest rates in an attempt to … Read more

BSP Says Consumer Prices To Go Up Faster Than Expected In 2nd Half Of 2022

BSP

BSP: “We are aware that inflation is likely to remain elevated in the coming months due mainly to domestic and global supply-side pressures.” BSP — The Bangko Sentral ng Pilipinas said that the Philippine consumer prices are expected to go up faster than expected in the second half of 2022 given movements in global prices. … Read more

BSP Sees Inflation Accelerating, Breaching Target

BSP

BSP: “Inflation would average between 4.4 and 4.7 percent under the worst-case scenario” BSP — The Bangko Sentral ng Pilipinas sees inflation accelerating and breaching the 2% to 4% target under a worst-case scenario. According to BSP Governor Benjamin Diokno, inflation may accelerate from 4.4% to 4.7% if Dubai crude oil reaches USD 120 to … Read more