Philippines Nouvel An Chinois
Actualités (PHP)
Philippines Inflation May Exceed Target Temporarily, Central Bank Says
Consumer price inflation in the Philippines is consistent with existing projections and is likely to exceed the target range temporarily in the coming months, due to the impact of adverse weather on domestic agricultural output and positive base effects, the country's central bank Bangko Sentral ng Pilipinas said Wednesday.
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Philippine Central Bank Hints At Rate Cut
The Philippine central bank hinted at an interest rate reduction in the third or fourth quarter of this year after policymakers decided to leave the benchmark interest rate unchanged for the fifth straight session on Thursday. The Monetary Board of the Bangko Sentral ng Pilipinas, governed by Eli Remolona, maintained the target reverse repurchase rate at 6.50 percent.
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Philippine GDP Growth Improves Less Than Expected In Q1
The Philippine economy expanded at a faster pace in the first quarter but the rate fell short of expectations on weaker domestic demand growth amid tight monetary policy. Gross domestic product grew 5.7 percent from a year ago after rising 5.5 percent in the fourth quarter of 2023, the Philippine Statistics Authority reported Thursday. Growth was seen at 5.9 percent.
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