The Bangko Sentral ng Pilipinas (BSP) signaled it remains prepared to adjust monetary policy further as upside risks to inflation accelerate and spillover effects threaten to broaden across the economy. Speaking at a legislative budget briefing on Monday, Aug. 17, BSP Governor Eli M. Remolona Jr....
The Philippines remains far from stagflation despite high inflation and sluggish economic growth, members of the Marcos Jr. administration’s economic team said, pushing back against Monetary Board Member (MBM) Benjamin E. Diokno’s characterization of the current situation as “stagflation...
Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona Jr. said the central bank had projected second-quarter economic growth to pick up faster than the actual reading, but noted that output remains weak. Speaking at the Economic Journalists Association of the Philippines (EJAP) economic forum...
Pressure on the Bangko Sentral ng Pilipinas (BSP) to raise its benchmark interest rate has eased after economic growth slowed to a post-pandemic low in the second quarter of the year, according to the central bank officials. Speaking to reporters on the sidelines of the central bank’s...
The central bank expects consumer price growth to have slowed to a three-month low in July, driven by cheaper staple foods, even as a weakening currency and elevated energy costs threaten to sustain inflationary pressures. Headline inflation likely settled between 5.6 percent and 6.6 percent in...
My colleagues and I—alumni of the Bangko Sentral ng Pilipinas (BSP), the Department of Finance (DOF), and the financial markets beats—almost always look forward to having lunch or dinner with the premier resident of Room 501. Yes, Virginia, it’s always a privilege to have up-close and...
Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona Jr. said the Philippine peso’s recent fall to its weakest level on record was “misleading,” citing the tremendous strength of the United States (US) dollar against major currencies. Last Friday, July 24, the peso sank to a fresh...
Kamanggagawa Party-list Rep. Eli San Fernando expressed hope that one act of wrongdoing in Singapore won 't tarnish the good name of overseas Filipino workers (OFWs) all over the world. San Fernando was reacting to the case of domestic worker Raguindin Bassig, who, upon deeper reflection, made...
The Bangko Sentral ng Pilipinas (BSP) is scrambling to reassess its inflation trajectory after Metro Manila’s unexpectedly large minimum wage hike threatened to trigger secondary price pressures. BSP Governor Eli Remolona Jr. admitted that the monetary authority was caught off guard by the scale...
Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona Jr. said around $50-billion, or ₱3-trillion, worth of Philippine government bonds are eligible for inclusion in JPMorgan Chase & Co.’s emerging-market (EM) index, a move that could attract billions of dollars in additional foreign...
Despite headline inflation easing further to 6.4 percent in June, the Bangko Sentral ng Pilipinas (BSP) warned that price pressures from global oil prices remain strong, assuring the public that it stands ready to take the necessary policy actions to steer inflation back to its three-percent...
The Philippine economy retains the capacity to absorb further monetary tightening even as it navigates a prolonged growth slowdown, Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona Jr. said. Remolona said during a media briefing on Monday, July 6, that a potential 25-basis-point interest...
