philippines economy

Amid the rising cost of basic goods, more than half of Filipinos have told pollsters that they are poor — the highest proportion since 2014. The Malacañang has expressed concern after a survey found that more than half of Filipinos believe they are poor.  Speaking today (Wednesday, October 10) a presidential spokesman assured that measures were… Full Story »

The Philippines has raised interest rates for the fourth time this year as it aims to tame surging inflation and shore up its tumbling currency. The Bangko Sentral ng Pilipinas [central bank] today (Thursday, September 27) announced a 50 basis point hike to 4.5 per cent, as worries grow that the nation’s economy is overheating.… Full Story »

The Philippine peso has fallen to a new 13-year low as trade tensions between China and the United States continued to intensify. The currency depreciated to 54.31:$1 today (Tuesday, September 25) now the weakest since the pair closed at 54.425:$1 on November 22, 2005. The Federal Open Market Committee is scheduled to meet today and… Full Story »

President Duterte blamed Trump’s imposition of tariffs on certain Chinese products for the surging inflation in the Philippines. Addressing a gathering of about 2,000 Filipinos in Amman, Jordan, today (Friday, September 7) he said: “Inflation is because of Trump, when Trump raised tariffs and banned other items. “I am not aplologising. There is really inflation… Full Story »

The Philippine peso has depreciated against the dollar for the third consecutive day, closing at its weakest level in nearly 13 years. The local currency today (Thursday, September 6) lost 2.5 centavos to close at 53.80 to the dollar, from 53.55 yesterday, its weakest since it closed at 53.985 on December 7, 2005. BDO Unibank… Full Story »