5 Basis Points Each Last May 19 And June 23 Both Decisions Were Made To Help Address The Accelerating Inflation Rate News Today : Breaking News, Live Updates & Top Stories | Vimarsana

WEAKER PESO SEEN.The Philippine peso is seen to weaken further against the US dollar on expectations for more hikes in the Bangko Sentral ng Pilipinas' (BSP) key rates. Rizal Commercial Banking Corporation (RCBC) chief economist Michael Ricafort cited that while this has benefited several sectors, the upticks in prices of fuel and other commodities have erased gains from the peso's weakening.(Photo from RCBC) MANILA -The Philippine peso is seen to weaken further against the US dollar as central banks continue to hike key rates to help address the elevated inflation rate and to withdraw pandemic-related measures. On Friday, the local currency almost touched the 55-level against the greenback when it depreciated to 54.999 mid-trade. It finished the week at 54.985 against the US dollar, its weakest in more than 16 years or since October 27, 2005 when it ended the trade at 55.08. Rizal Commercial Banking Corporation (RCBC) chief economist Michael Ricafort, in a reply to questions f

San carlosNegros occidentalMichael ricafortBangko sentralRizal commercial banking corporationPhilippine news agencyNational capital regionCommercial banking corporationMonetary boardWeaker peso seen the philippine is to weaken further against us dollar on expectations for more hikes in bangko sentral ng pilipinas 39 bsp key rates rizal commercial banking corporation rcbc chief economist michael ricafort cited that while this has benefited several sectorsHe upticks in prices of fuel and other commodities have erased gains from the peso 39s weakening photo rcbc manila philippine is seen to weaken further against us dollar as central banks continue hike key rates help address elevated inflation rate withdraw pandemic related measures on fridayHe local currency almost touched the 55 level against greenback when it depreciated to 54 999 mid trade finished week at 985 us dollarTs weakest in more than 16 years or since october 27005 when it ended the trade at 55 08 rizal commercial banking corporation rcbc chief economist michael ricafortNa reply to questions from the philippine news agencyUot the peso exchange rate would now be partlya function of expected hike in local policy rates coming months quot bangko sentral ng pilipinas 39 bsp making monetary board mb has increased central bank 39s key bya total 50 basis points