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Philippine Central Bank Unexpectedly Retains Policy Rates
The Philippine central bank unexpectedly left its interest rates unchanged after cutting it for three straight times amid heightened uncertainty over US trade policy. The Monetary Board of the Bangko Sentral ng Pilipinas decided to hold the target reverse repurchase rate at 5.75 percent. The interest rates on the overnight deposit and lending facilities were kept unchanged.
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Philippine GDP Expands Less Than Forecast
The Philippine economy expanded at a slower than expected pace in the fourth quarter as severe storms damped farm output and geopolitical tensions weighed on manufacturing, official data showed on Thursday. Consequently, the economy missed its full year official growth target in 2024. Gross domestic product grew 5.2 percent year-on-year in the fourth quarter, the same pace as in the third quarter.
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Philippines Cuts Policy Rate To 5.75%
The Philippine central bank decided to reduce its benchmark rate by 25 basis points on Thursday as inflation is projected to remain within the target range and, hinted at further policy easing next year. The Monetary Board of the Bangko Sentral ng Pilipinas lowered the target reverse repurchase rate to 5.75 percent from 6.00 percent.
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82 dagar sedan
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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146 dagar sedan
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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208 dagar sedan
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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215 dagar sedan
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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278 dagar sedan
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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298 dagar sedan
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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306 dagar sedan
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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336 dagar sedan
