THE PESO may continue to depreciate against the dollar this week as market players anticipate the US Federal Reserve’s policy direction in bringing inflation within target at their annual global central bankers’ conference on Friday. READ
nish on Thursday, data from the Bankers Association of the Philippines showed.Dollars exchanged inched down to $889.6 million on Friday from $939.3 million on Thursday.
“I don’t really see why you want to drag out interest rate increases into next year,” Mr. Bullard said in an interview with theMr. Bullard also said he would like to get the US central bank’s benchmark overnight interest rate to a target range of 3.75% to 4% by end-2022. The Fed’s policy rate is currently 2.25%-2.50%.
For this week, the dollar may strengthen as investors may try to get a better read on the Fed’s likely policy actions in the coming months, said UnionBank of the Philippines, Inc. Chief Economist Ruben Carlo O. Asuncion. Back home, Mr. Asuncion said investors will be on the lookout for the Philippine central bank’s policy direction that would continue to support the peso.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Further hikes in BSP rates to back PH peso: economistAn economist has forecast further hikes in the Bangko Sentral ng Pilipinas’ (BSP) key policy rates even with the 50 basis point increase on Thursday, citing the need to address interest rate differ…
Read more »
House kicks off budget season with arrival of spending plan from gov’t - BusinessWorld OnlineThe House of Representatives will receive the P5.26 trillion proposed 2023 national budget today, Aug. 22, giving it just under six weeks to pass an appropriations bill before recess, a senior legislator said. READ:
Read more »
Shipping industry backs bill seeking devolution of PPA’s regulatory functions - BusinessWorld OnlineTHE PHILIPPINE Liner Shipping Association (PLSA) has expressed support for a proposed measure that seeks to strip the Philippine Ports Authority (PPA) of its regulatory functions. READ
Read more »
Solon says income from GOCCs can cover poor seniors’ higher pension - BusinessWorld OnlineA MEMBER of the House of Representatives on Sunday said the national treasury's dividend income from government-owned-or-controlled corporations (GOCCs) can fund the monthly pension for indigent senior citizens, which is due to increase to P1,000 from the current P500.
Read more »
Senate bill seeks 20% discount for indigent job applicants on pre-employment documents - BusinessWorld OnlineA bill granting a 20% discount on fees charged to indigent job applicants for government-issued pre-employment documents has been refiled in the Senate. READ:
Read more »
Gov’t told to talk to local gov’ts on cash aid after weekend chaos - BusinessWorld OnlineThe Philippine government should coordinate with local authorities after chaos marred its aid payout to poor students, experts said at the weekend, amid spiraling oil and food prices. READ:
Read more »