Government says economy on the mend Cbank seen keeping key rate steady on Wednesday (Adds comments of economist, economic official)
MANILA, May 11 (Reuters) - The Philippine economy shrank more than expected in the first quarter, though sequential momentum showed a recovery was underway and suggested the central bank will keep rates at a record low at this week’s policy review to support the revival.
Gross domestic product fell 4.2% in the March quarter from a year earlier, the statistics agency said on Tuesday, worse than the median estimate of a 3.0% contraction in a Reuters poll, but an improvement from the 8.3% slump in the previous quarter.
UPDATE 2-Philippine economic slump extends into Q1, but signs of recovery emerge Reuters 1 day ago Q1 GDP shrinks 4.2% yr/yr, grows 0.3% qtr/qtr Government says economy on the mend Cbank seen keeping key rate steady on Wednesday (Adds comments of economist, economic official)
By Neil Jerome Morales and Karen Lema
MANILA, May 11 (Reuters) - The Philippine economy shrank more than expected in the first quarter, though sequential momentum showed a recovery was underway and suggested the central bank will keep rates at a record low at this week s policy review to support the revival.
Gross domestic product fell 4.2% in the March quarter from a year earlier, the statistics agency said on Tuesday, worse than the median estimate of a 3.0% contraction in a Reuters poll, but an improvement from the 8.3% slump in the previous quarter.
China, Japan, S Korea vow targeted support for recovery from pandemic yahoo.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yahoo.com Daily Mail and Mail on Sunday newspapers.
Welcome Chiang Mai currency swap system, seek more initiatives Meet ASEAN financial leaders on sidelines of ADB annual meetings (Adds statement, detail)
By Tetsushi Kajimoto
TOKYO, May 3 (Reuters) - Finance ministers and central bank governors from China, Japan and South Korea on Monday vowed targeted measures for those countries most affected by the COVID-19 pandemic, and committed to foster fiscal and financial stability.
In a joint statement issued after a virtual meeting held on the sidelines of the Asian Development Bank s (ADB) annual meetings, the ministers pledged to achieve inclusive recovery, preserve long-term fiscal sustainability and maintain financial stability.
Responses to the coronavirus crisis, universal health coverage, climate change, high-quality infrastructure and debt transparency and sustainability in emerging Asia are expected to top the agenda at the ADB gatherings.
UPDATE 2-ASEAN plus China, Japan, S.Korea vow to boost financial ties amid pandemic Reuters 5/3/2021
Popular Searches ASEAN+3 financial leaders meet online on sidelines of ADB mtgs Financial heads vow to use all tools, normalise policy gradually (Recasts with ASEAN+3 statement, finmin Aso comment, detail)
By Tetsushi Kajimoto
TOKYO, May 3 (Reuters) - Finance ministers and central bank governors from ASEAN, China, Japan and South Korea on Monday vowed to strengthen regional financial cooperation while providing continued support for countries hit hard by the COVID-19 pandemic.
In a joint statement issued after a virtual meeting on the sidelines of the Asian Development Bank s (ADB) annual meetings, the ministers pledged to achieve inclusive recovery, preserve long-term fiscal sustainability and maintain financial stability.