PHP Forex News
Philippine Central Bank Lowers Key Rates By 25 Bps
The Philippine central bank reduced its benchmark rates by 25 basis points for the second straight meeting on Wednesday, as inflation remained low. The Monetary Board of the Bangko Sentral ng Pilipinas lowered the target reverse repurchase rate to 6.00 percent from 6.25 percent. The interest rates on the overnight deposit and lending facilities were accordingly adjusted.
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33 days ago
Philippine Central Bank Lowers Rate For First Time Since 2020
The Philippine central bank unexpectedly lowered its benchmark rates for the first time in nearly four years and hinted at more easing amid well-anchored inflation expectations. The monetary board of the Bangko Sentral ng Pilipinas reduced the target reserve repurchase rate by 25 basis points to 6.25 percent. Markets were expecting a hold.
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95 days ago
Philippine Economic Growth Fastest In More Than A Year
The Philippine economy posted the fastest growth in more than a year in the second quarter underpinned by government spending and investment. Gross domestic product grew 6.3 percent year-on-year after expanding by revised 5.8 percent in the first quarter, the Philippine Statistics Authority said Thursday.
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102 days ago
Philippines Inflation May Exceed Target Temporarily, Central Bank Says
Consumer price inflation in the Philippines is consistent with existing projections and is likely to exceed the target range temporarily in the coming months, due to the impact of adverse weather on domestic agricultural output and positive base effects, the country's central bank Bangko Sentral ng Pilipinas said Wednesday.
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166 days ago
Philippine Central Bank Hints At Rate Cut
The Philippine central bank hinted at an interest rate reduction in the third or fourth quarter of this year after policymakers decided to leave the benchmark interest rate unchanged for the fifth straight session on Thursday. The Monetary Board of the Bangko Sentral ng Pilipinas, governed by Eli Remolona, maintained the target reverse repurchase rate at 6.50 percent.
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186 days ago
Philippine GDP Growth Improves Less Than Expected In Q1
The Philippine economy expanded at a faster pace in the first quarter but the rate fell short of expectations on weaker domestic demand growth amid tight monetary policy. Gross domestic product grew 5.7 percent from a year ago after rising 5.5 percent in the fourth quarter of 2023, the Philippine Statistics Authority reported Thursday. Growth was seen at 5.9 percent.
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193 days ago
Philippine Central Bank Holds Rate Steady
The Philippine central bank maintained its benchmark interest rate for the fourth consecutive meeting despite the rising inflation expectations. The Monetary Board governed by Eli Remolona, maintained the target reverse repurchase rate at 6.50 percent, as widely expected. Previously, the bank had raised the rate by a quarter-point in October.
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224 days ago
Philippine GDP Expands More Than Forecast
The Philippine economy expanded more than expected in the fourth quarter driven by investment and household spending but the full year growth missed the government target. Economic growth moderated to 5.6 percent in the fourth quarter from 6.0 percent in the preceding period. However, this was better than the expected expansion of 5.2 percent.
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292 days ago
Philippine Central Bank Keeps Rate Unchanged
The Bangko Sentral ng Pilipinas kept its policy rates untouched on Thursday after an off-cycle rate hike in October and hinted at more tightening if required to steer inflation towards a target-consistent path. The Monetary Board, led by Governor Eli Remolona, maintained the target reverse repurchase rate at 6.50 percent.
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368 days ago
Philippine Economy Logs Faster-Than-Expected Growth
The Philippine economy grew at a faster-than-expected pace in the third quarter underpinned by government spending and exports, official data revealed Thursday. Gross domestic product posted an annual growth of 5.9 percent, faster than the 4.3 percent expansion seen in the second quarter, the Philippine Statistics Authority said. The rate was forecast to improve moderately to 4.7 percent.
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375 days ago
