Considering both external and internal factors, 2019 has been quite an interesting year for macroeconomics in the Philippines, with the Hong Kong protests, Brexit, the local rice situation, and other circumstances influencing the country’s financial state.
This was the assessment made by key executives of Metropolitan Bank & Trust Co. (Metrobank) during a recent investor’s forum held in Clark, Pampanga.
As part of the bank’s series of economic briefings and a first in North Luzon, the forum was attended by top institutional investors and high-net-worth individuals from various areas within the region. Metrobank Investment Distribution Division Countryside Head Chorie Chan outlined the bank’s emphasis on meaningful banking initiatives, its impact to investors, and the importance of well-informed decision-making during times of uncertainty.
Marc Bautista, the bank’s Vice President and Head of Research, discussed the macroeconomic outlook, underscoring the slowdown in global economic growth brought about by the ongoing China-US Trade War, the impact of high interest rates on domestic spending, and the continued strength of the Philippine economy amid expected improvements in government spending and lower interest rates. For his part, Ruben Zamora, Metrobank’s First Vice President and Head of the Institutional Investors Coverage Division, discussed strategies in financial markets given the current global and domestic environment. He highlighted the attractiveness of the Local Sovereign bond market. Moreover, he advised investors to be on the lookout for attractive offshore investment opportunities.