The peso’s descent to unprecedented lows is facing a volatile new headwind, with MUFG Bank Ltd. warning that an escalating political feud between the nation’s two most powerful dynasties threatens to upend investor confidence. The Japanese financial institution said that the deepening rift...
The peso fell to its weakest level on record for a second consecutive day, as persistent inflation in the United States (US) fueled expectations that interest rates will remain elevated, dampening appetite for emerging-market assets. The local currency weakened to ₱61.721 per dollar on Friday,...
The peso shed 26 centavos against the United States (US) dollar on Thursday, May 14, closing at a fresh record low of ₱61.64 from ₱61.38 last Wednesday, May 13. According to the Bankers Association of the Philippines (BAP), the local currency hit an intraday low of ₱61.66 and a high of...
The Quezon City Public Employment Service Office (PESO) will conduct an in-house recruitment activity on May 14 in partnership with Young Scholars Academy of Quezon City to fill teaching and school support positions. Hiring event will begin at 8 a.m. at the QC PESO Main Office on the sixth floor...
Efforts to tame surging consumer prices may come at a steep cost to the Philippine economy, placing the economic team and monetary authorities in the difficult position of containing inflation while grappling with mounting growth pressures. British banking giant Barclays has turned more bearish on...
While the Bangko Sentral ng Pilipinas (BSP) is seen raising key borrowing costs by up to 100 basis points (bps) more should inflation worsen, MUFG Bank Ltd. warned that such hawkish adjustments may not be enough to prop up the underperforming peso. According to the Japanese financial giant, the...
Latest numbers from the Philippine Statistics Authority (PSA) serve as a reality check for the Marcos administration, which has been promising a new economic era. The economy grew by just 2.8 percent in the first quarter of the year, a cold shower for a country recently touted as a regional leader....
Headline inflation or annual price increases soared to a 37-month high of 7.2 percent in April, mainly as domestic fuel and food prices skyrocketed due to the global oil price and supply shocks caused by the prolonged war in the Middle East. The Philippine Statistics Authority ’s (PSA) latest...
The peso is at risk of crumbling to a record low of ₱63 against the United States (US) dollar if a protracted Middle East conflict drives oil prices higher and forces Washington to adopt a more hawkish policy stance. Estimates by the Japanese financial giant MUFG Bank Ltd. show that in a risk...
Malacañang said the Philippine peso breaching another record low value against US dollar was due to "unusually strong" dollar and the ongoing Middle East crisis. In a Palace briefing on Thursday, April 30, Palace Press Officer and Communications Undersecretary said that the weakening of the peso...
Real investment activity in the Philippines risks shrinking during periods of global disruption, especially in scenarios where the United States (US) dollar swings wildly and uncertainty surrounding the American economy intensifies. “Investment declines most sharply when dollar strength and...
Until a clearer signal emerges from the temporary military truce between the United States (US) and Iran, the Philippine peso stands to sustain additional bruises from the geopolitical tensions that have already battered it, according to Singapore-based Oversea-Chinese Banking Corp. Ltd. (OCBC)....
