Local economic growth suffered from a severe contraction in investments and a construction slump, causing Southeast Asia’s growth to slow to five percent in the second quarter. In an Aug. 19 commentary, Singapore-based Oversea-Chinese Banking Corp. Ltd. (OCBC) Group Research reported that the...
The Bangko Sentral ng Pilipinas (BSP) retains room for an additional 50 basis points (bps) of rate hikes at its remaining policy meetings, potentially closing the year with a benchmark rate of 5.25 percent, according to Japanese financial giant MUFG Bank Ltd. MUFG Global Markets Research wrote in...
The Philippine economy faces an uphill battle in the second half of 2026 after posting its weakest post-pandemic growth, with private sector economists warning that faster infrastructure spending, easing inflation, and stronger investor confidence will determine whether the country can meet the...
Japanese financial giant MUFG Bank Ltd. warned that the Philippine peso could plunge to as low as ₱64.5 against the United States (US) dollar if the Middle East war re-escalates, with the decline worsened further by a global “super” El Niño and a hawkish US central bank. MUFG analysts wrote...
The inflation-targeting Bangko Sentral ng Pilipinas (BSP) is expected to continue raising interest rates to contain surging inflation despite the risk of slower economic growth. In a May 22 report, Japanese financial giant MUFG Bank Ltd. said the Philippines is facing one of the most severe...
The Philippine peso plummeted again to a new historic low, brushing the whiskers of the ₱62:$1 level on the back of strong demand for the safe-haven United States (US) dollar and a local market that has turned more sensitive to uncertainties. The peso started the week at a new record low against...
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...
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...
British banking giant HSBC is now leaning toward back-to-back jumbo interest rate hikes that could lift policy rates to six percent, as signs of de-escalation in Middle East tensions remain muted—potentially forcing the Bangko Sentral ng Pilipinas (BSP) to add another layer to its...
While Asian currencies have been on a modest decline since Middle East tensions flared up, Japanese financial giant MUFG Bank Ltd. said the Philippine peso was the biggest loser among regional currencies, given the domestic economy’s high exposure to imported oil. Separately, think tank Capital...
The ceasefire-driven rally of Asian currencies, including the Philippine peso, may be short-lived as global oil risks linger, according to Singapore-based Oversea-Chinese Banking Corp. Ltd. (OCBC). In an April 9 report, OCBC Group Research foreign exchange (FX) strategists Sim Moh Siong and...
If the war in the Middle East prolongs and global oil prices continue to skyrocket, the Philippine peso could breach the ₱61:$1 level in the second quarter of 2026 and even hit as low as ₱62 to ₱64 against the United States (US) dollar. “Our base case forecasts for the US dollar-Philippine...
