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 World Bank warned that the Philippines’ broad-based economic slowdown in the first quarter of 2026 could spill over into weaker household incomes and higher food prices as the country grapples with an escalating energy price shock triggered by tensions in the Middle East. In its latest...
De La Salle University (DLSU) economists slashed their 2026 Philippine gross domestic product (GDP) growth forecast to 3.11 percent from 3.79 percent previously, warning that the economy is facing mounting pressure from the Middle East conflict, elevated inflation, and lingering domestic...
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...
The peso pierced the ₱61:$1 level on Tuesday, April 28, as the oil-vulnerable local currency continued to weaken amid uncertainties wrought by the prolonged war in the Middle East. As of 1:52 p.m., the peso hit an intraday low of ₱61.08 against the United States (US) dollar after opening...
Philippine economic growth in 2026 would have hit the government’s downgraded target range had the war in the Middle East been short-lived, according to the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP). However, the Bangkok-headquartered UNESCAP said a...
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...
Malacañang said the ongoing conflict in the Middle East has contributed to the Philippine peso’s decline to a record low. Although Palace Press Officer and Communications Undersecretary Claire Castro did not entirely attribute the weakening of peso against US dollar to the ongoing war, she said...
Singapore-based DBS Bank Ltd stated that the Philippine peso is emerging as one of Asia’s most vulnerable currencies as deepening global oil crisis exposes the nation’s heavy reliance on imported energy and the lack of government subsidies. DBS wrote in a commentary published last Friday that...
President Marcos has cited the futility of spending the country 's foreign reserves to defend the Philippine peso, which recently further weakened, hitting a new record low of P60.30 against the US dollar. In an interview with Bloomberg, Marcos stressed that the dollar 's movement is...
Malacañang has attributed the Philippine peso 's all-time low against US dollar to the several global and local developments, including the tension between the United States and Venezuela and the investigation on the anomalous flood control projects. "Ang pagtaas ng piso kontra dolyar...
