BusinessWorld
May 6, 2021 | 12:07 am
BW FILE PHOTO
YIELDS on the central bankâs term deposits slipped on Wednesday following steady April inflation data and as the peso strengthened in the past days.
Demand for the term deposit facility (TDF) of the Bangko Sentral ng Pilipinas (BSP) hit P583.062 billion on Wednesday, higher than the P510 billion on the auction block as well as the P546.571 billion in tenders logged a week earlier.
Broken down, tenders for the one-week term deposits amounted to P157.385 billion on Wednesday, surpassing the P150-billion offer but failing to beat the P174.267 billion in bids seen during the previous offering.
BusinessWorld
May 3, 2021 | 12:02 am
BW FILE PHOTO
THE PESO could weaken anew this week on expectations that the inflation rate is likely faster and amid preference for the dollar due to the brighter prospects of the US economy.
On Friday, the local unit finished at P48.10 per dollar, powering by 21.5 centavos from its P48.315 close on Thursday, based on data from the Bankers Association of the Philippines.
The peso’s Friday close is its best in more than two months or since Feb. 15 when it ended trading at P47.93.
The local unit also strengthened by 28.1 centavos from its P48.381 close on April 23.
BusinessWorld
April 30, 2021 | 6:52 pm
Photo by Michael Varcas, The Philippine Star
The Bangko Sentral ng Pilipinas (BSP) said inflation likely breached the upper-end of its annual target for a fourth straight month in April due to higher electricity rates and food prices.
Inflation during the month likely reached between 4.2% to 5%, BSP Governor Benjamin E. Diokno told reporters in a Viber message. This is above the 2-4% target of the central bank.
He said the BSP’s point inflation forecast for April is at 4.6%, which, if realized, will be faster than the 4.5% in March and the 2.2% a year earlier.
The April inflation data will be released by the Philippine Statistics Authority on May 5.
SunStar
SunStar File DUE to the Covid-19 pandemic, the economic performance of Central Visayas plunged by 9.9 percent in 2020.
This is in stark contrast to the 6.2 percent growth recorded in the region in 2019, whose economic value stood at P1.254 trillion.
In 2020, the value of the region’s economic performance stood at P1.129 trillion, according to the Philippine Statistics Authority on Thursday, April 29, 2021.
PSA 7 Director Ariel Florendo said the drop in the performance of industries by five percent and services by 5.2 percent contributed heavily to the overall 9.9 percent decline. Agriculture, however, grew 0.3 percent.
Central Visayas’ economic performance, according to PSA 7, was worse than the country’s gross domestic product (GDP) growth, which was at negative 9.5 percent, the first annual contraction since 1998, the year after the Asian financial crisis erupted.
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