Page 9 - Nicholas Mapa News Today

MANILA : The Philippines central bank kept its benchmark interest rate steady on Thursday, as expected, and signalled a continued pause in policy tightening for the next two to three meetings, after lowering inflation forecasts for this year and next.The Bangko Sentral ng Pilipinas (BSP) kept the benchmar

The Philippine central bank paused its monetary policy tightening on Thursday after ten consecutive rate hikes and signaled that rates will remain at the current levels in the near term.

After raising key policy rates nine times since May last year, most economists are convinced that the Bangko Sentral ng Pilipinas is set to step on the brakes of its tightening cycle.

After raising key policy rates nine times since May last year, most economists are convinced that the Bangko Sentral ng Pilipinas is set to step on the brakes of its tightening cycle.

The latest PSA reading showed agriculture and fisheries production grew 2.1 percent to P426.69 billion in the first quarter

The Philippine economy expanded at a slower pace in the first quarter but remained strong on investment and household spending. Gross domestic product registered a slower growth of 6.

The country’s outstanding debt, as a share to the overall economy, eased in the first quarter, but remained above the internationally accepted threshold, putting pressure on the government’s effort to manage debt more sustainably.

The value of the Philippine agricultural and fisheries sector bounced back in the first quarter of the year  following the positive performance of all subsectors, according to the Philippine Statistics Authority.

China Bank chief economist Domini Velasquez said GDP likely grew by 6.8 percent from January to March

Economists expect gross domestic product growth in the first quarter to slow down sharply   from 8.2 percent a year ago as elevated inflation and higher interest rates reined in consumer spending and capital formation.