Philippines Interest Rate Decision
The Monetary Board of the Bangko Sentral ng Pilipinas (BSP) is in charge of making interest rate decisions in the Philippines. The reverse repo rate (RR/P), which is the overnight borrowing rate, serves as the official interest rate. The Philippine central bank is dedicated to promoting and maintaining price stability, as well as providing proactive leadership in establishing a robust financial system that supports balanced and sustainable economic growth.
A higher than expected figure should be seen as positive (bullish) for the PHP while a lower than expected figure should be seen as negative (bearish) for the PHP.
News (PHP)
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.
RTTNews | 6h 57min ago
Philippine Central Bank Holds Rate Steady
The Philippine central bank maintained its benchmark interest rate for the fourth consecutive meeting despite the rising inflation expectations. The Monetary Board governed by Eli Remolona, maintained the target reverse repurchase rate at 6.50 percent, as widely expected. Previously, the bank had raised the rate by a quarter-point in October.
RTTNews | 31 days ago
Philippine GDP Expands More Than Forecast
The Philippine economy expanded more than expected in the fourth quarter driven by investment and household spending but the full year growth missed the government target. Economic growth moderated to 5.6 percent in the fourth quarter from 6.0 percent in the preceding period. However, this was better than the expected expansion of 5.2 percent.
RTTNews | 99 days ago
