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BSP hikes rates by 50 bps as inflation remains elevated

KEY RATES HIKE. Bangko Sentral ng Pilipinas (BSP) Governor Felipe Medalla (2nd from left) discusses the decision of the policy-making Monetary Board (MB) to hike the central bank's key rates by 50 basis points on Thursday (Feb. 16, 2023). The rate hike was attributed to the higher-than-expected inflation rate last January at 8.7 percent and the continued recovery of the domestic economy. (PNA photo by Joann S. Villanueva) MANILA - Elevated domestic inflation rate continues to remain as a main factor for the upward adjustments in the Bangko Sentral ng Pilipinas' (BSP) key rates, which were hiked by 50 basis points on Thursday. In a briefing, BSP Governor Felipe Medalla said the rate uptick will take effect this Friday and this will bring the overnight reverse repurchase (RRP) rate to 6 percent, same as in August 2008; the overnight repurchase rate to 6.5 percent and the overnight deposit rate to 5.5 percent. "In deciding to raise the policy interest rate anew, the Monetary ....

Bangko Sentral , Felipe Medalla , Monetary Board , Key Rates Hike Bangko Sentral Ng Pilipinas Bsp Governor Felipe Medalla 2nd From Left Discusses The Decision Of Policy Making Monetary Board Mb To Central Bank 39s By 50 Basis Points On Thursday Feb 16 , 023 The Rate Hike Was Attributed To Higher Than Expected Inflation Last January At 8 7 Percent And Continued Recovery Of Domestic Economy Pna Photo By Joanns Villanueva Manila Elevated Continues Remain Asa Main Factor For Upward Adjustments In Bangko Sentral Ng Pilipinas 39 Bsp Key Rates , Hich Were Hiked By 50 Basis Points On Thursday Ina Briefing , Sp Governor Felipe Medalla Said The Rate Uptick Will Take Effect This Friday And Bring Overnight Reverse Repurchase Rrp To 6 Percent , Ame As In August 2008 The Overnight Repurchase Rate To 6 5 Percent And Deposit Quot Deciding Raise Policy Interest Anew , He Monetary Board Noted That The Latest Baseline Inflation Forecast Path Has Shifted Higher Relative To Previous Assessment , Uot He Said This , S Monetary Authorities Now See Inflation Averaging At 6 1 Percent This Year , Igher Than The 4 3 Percent Last November And Way Higher Government 39s 2 To Target Band For 2024 , He Average Is Expected To Slow 3 1 Percent , Ame As That Last November Monetary Authorities Said Upside Risks To Inflation Include The Higher Global And Domestic Food Prices , Transport Fare Hikes , Igher Sugar Prices And Higher Wage Adjustments Medalla Said The Upward Adjustment In Average Inflation Forecast Was Partly Due To Than Expected 8 7 Percent Rate Last January , A New 14 Year High , Nd Surpassed Expectations That Rate Of Price Increases Likely Peaked Last December He Said Inflation Is Seen To Go Back Within Target Level By October This Year Medalla The Stronger Recovery Domestic Economy , Hich Exceeded The Government 39s 2022 Growth Assumption Of 6 5 To 7 Percent After Expanding By , S Alsoa Factor For The Acceleration Of Inflation Rate Quot Both Headline And Core Measures Have Also Continued To Increase , Ndicatinga Further Broadening Of Price Pressures , Articularly In Services , Uot He Said , Dding Quot Inflation Expectations Have Likewise Risen Further , Nderscoring The Need To Pre Empt Emergence Of Further Second Round Effects Quot Medalla Said That Since Inflation Is Driven By Supply Shocks , E Supports The Government 39s Measures To Import Additional Food Items As Well Any That Will Boost Productivity He Said Latest Rate Adjustment In Central Bank Key Rates Is Quota Strong Follow Through Monetary Policy Response Quot And Needed Reduce Risk Ofa Breach Of Inflation Target Next Year ,

Stocks slip, peso weakens ahead of BSP rate setting meet

AHEAD OF POLICY MEETING. The local stock barometer slipped while the peso weakened on Monday (Feb. 13, 2023) as investors stayed at the sidelines ahead of the policy meeting of the Bangko Sentral ng Pilipinas (BSP) on Feb. 16, 2023. Analysts and economists expect the BSP's rates to be hiked by at least 25 basis points. (PNA graphics) MANILA - The local bourse's main index ended Monday in the negative territory ahead of the rate setting meeting of the Bangko Sentral ng Pilipinas (BSP) later in the week, while the peso weakened against the United States dollar. The Philippine Stock Exchange index (PSEi) shed 0.55 percent, or 38.03 points, to 6,838.76 points. All Shares slipped by 0.28 percent, or 10.21 points, to 3,642.96 points. Half of the sectoral gauges tracked the PSEi, namely Holding Firms declining by 1.22 percent; Property, 0.52 percent; and Services, 0.40 percent. On the other hand, Mining and Oil rose by 0.43 percent, Industrial by 0.20 percent and Financials by 0.05 pe ....

San Carlos , Negros Occidental , United States , Michael Ricafort , Bangko Sentral , Luis Limlingan , Rizal Commercial Banking Corporation , Holding Firms , Regina Capital Development Corporation , Federal Reserve , Philippine Stock Exchange , Monetary Board , Commercial Banking Corporation , Ahead Of Policy Meeting The Local Stock Barometer Slipped While Peso Weakened On Monday Feb 13 , 023 As Investors Stayed At The Sidelines Ahead Of Policy Meeting Bangko Sentral Ng Pilipinas Bsp On Feb 16 , 023 Analysts And Economists Expect The Bsp 39s Rates To Be Hiked By At Least 25 Basis Points Pna Graphics Manila Local Bourse Main Index Ended Monday In Negative Territory Ahead Of Rate Setting Meeting Bangko Sentral Ng Pilipinas Later Week , Hile The Peso Weakened Against United States Dollar Philippine Stock Exchange Index Psei Shed 0 55 Percent , R 38 03 Points , Go 6 , 838 76 Points All Shares Slipped By 0 28 Percent , R 10 21 Points , O 3 , 642 96 Points Half Of The Sectoral Gauges Tracked Psei , Amely Holding Firms Declining By 1 22 Percent Property , Ining And Oil Rose By 0 43 Percent , Ndustrial By 0 20 Percent And Financials 05 Volume Reacheda Little Over 1 Billion Shares Amounting To Php6 6 Advancers Led Decliners At 101 99 While 39 Were Unchanged Luis Limlingan ,

Measure to prevent adolescent pregnancies pushed

Photo: TEENAGE MOM. A young mother and her baby are being attended to by a doctor in this undated photo. A consolidated bill is being pushed in the House of Representatives that seeks to institutionalize a policy that would prevent teenage pregnancies. (Photo lifted from the Commission on Population and Development Facebook page) MANILA - The House Committee on Youth and Sports Development on Thursday approved the consolidation of at least seven bills that seek to institutionalize a policy that would prevent teenage pregnancies. At the hearing, the committee agreed to consolidate House Bills 79, 2062, 2524, 3211, 5559, 6901 and 6964 into one proposal that pushes a comprehensive measure that would make family planning methods accessible to sexually active minors that could eventually address adolescent pregnancies. In his opening remarks, citing the study conducted by the Commission on Population and Development (PopCom), committee chairperson and Isabela Rep. Faustino Michael Dy III sa ....

Negros Occidental , Faustino Michael Dy , Edcel Lagman , National Economic Development Authority , House Committee On Youth , Sports Development On , Development Popcom , Commission On Population , House Committee , Sports Development , House Bills , Southeast Asian , Photo Teenage Moma Young Mother And Her Baby Are Being Attended To Bya Doctor In This Undated Photoa Consolidated Bill Is Pushed The House Of Representatives That Seeks Institutionalizea Policy Would Prevent Pregnancies Lifted From Commission On Population Development Facebook Page Manila Committee Youth Sports Thursday Approved Consolidation At Least Seven Bills Seek Hearing , He Committee Agreed To Consolidate House Bills 79 , 901 And 6964 Into One Proposal That Pushesa Comprehensive Measure Would Make Family Planning Methods Accessible To Sexually Active Minors Could Eventually Address Adolescent Pregnancies In His Opening Remarks , Iting The Study Conducted By Commission On Population And Development Popcom , Ommittee Chairperson And Isabela Rep Faustino Michael Dy Iii Said That In 2019 , He Philippines Was Ranked Second Among Southeast Asian Countries With The Highest Adolescent Birth Rate At 5 9 Percent In Girls Aged 15 To 19 Laos First 6 33 Noted That Back 2019 , Come 2 , 411 Girls With Ages 10 To 14 Gave Birth , Bservinga Continued Surge Of Teenage Pregnancies Over The Past 11 Years He Also Cited 2020 World Studies Showing That Philippines Has 47 Births Annually For 1 , 000 Women Aged 15 19 Years Old , Hich Was Higher Than The Average Adolescent Birth Rate Of 44 Percent Globally And 33 5 In Asean Region Albay Rep Edcel Lagman , He Principal Author Of Hb 79 , Ointed Out That Adolescent Pregnancies And Childbirths Account For The High Rate Of Maternal Mortality Quot Mothers Should Be Fixtures Past But Until Today , Eenage Mothers Still Abound Even In Progressive And Developed Countries ,

Make digital services for OFWs 'top priority': PBBM tells DMW

(File photo) #PBBMSONA2022 MANILA - President Ferdinand "Bongbong" Marcos Jr. on Monday ordered the Department of Migrant Workers (DMW) to pursue automated services to ensure the immediate delivery of assistance to overseas Filipino workers (OFWs). In his first State of the Nation Address (SONA), Marcos emphasized the need to stop the bureaucratic red tape to ease the burden of OFWs. Marcos instructed the DMW to coordinate with the Department of Information and Communications Technology (DICT) for the digital processing of OFWs' documents. "We shall automate the verification of contracts and issue secure Overseas Employment Certifications (OEC) that you can keep on your smartphone. I call on the Department of Migrant Workers and the DICT to make this a top priority," he said in a speech delivered at Batasan Complex in Quezon City. The OEC, also known as exit clearance or pass, is a document certifying the regularity of recruitment and documentation of an OFW and ....

Saudi Arabia , Ferdinand Bongbong Marcos Jr , Repatriation Command Center , Department Of Foreign Affairs , Philippine Overseas Employment Administration , Communications Technology , Department Of Information , Department Of Migrant Workers , Migrant Workers , Nation Address , Overseas Employment Certifications , Batasan Complex , Workers Secretary Susan Ople , Foreign Affairs , Secretary Susan Ople , One Repatriation Command Center , Ile Photo Pbbmsona2022 Manila President Ferdinand Quot Bongbong Marcos Jr On Monday Ordered The Department Of Migrant Workers Dmw To Pursue Automated Services Ensure Immediate Delivery Assistance Overseas Filipino Ofws In His First State Nation Address Sona , Arcos Emphasized The Need To Stop Bureaucratic Red Tape Ease Burden Of Ofws Marcos Instructed Dmw Coordinate With Department Information And Communications Technology Dict For Digital Processing 39 Documents Quot We Shall Automate Verification Contracts Issue Secure Overseas Employment Certifications Oec That You Can Keep On Your Smartphonei Call Migrant Workers Make Thisa Top Priority , Uot He Said Ina Speech Delivered At Batasan Complex In Quezon City The Oec , Lso Known As Exit Clearance Or Pass , Sa Document Certifying The Regularity Of Recruitment And Documentation An Ofw Anda Proof His Or Her Registration With Philippine Overseas Employment Administration Poea Migrant Workers Secretary Susan Ople Earlier Vowed To Simplify Existing Processes Ensure Quot Enhanced , Nd Transparent Quot Services For Ofws She Also Guaranteed That Is Prioritizing The Review Of Poea 39s Rules And Regulations , Ncluding Its System On Contract Verification And Issuance Of Oecs For The Streamlining Key Frontline Services Faster , Impler Transactions Marcos Also Sought The Faster Deployment Of Ofws By Shortening Processing Period To Three Weeks From Current Months Quot Mula Sa Tatlong Buwan Ay Gagawin Na Lamang Nating Linggo Para Isang Dayuhang Employer Nai Proseso Ang Mga Papeles Ng Filipinong Nais Nitong Kunin Bilang Empleyado Instead , E Will Make It Just Three Weeks Fora Foreign Employer To Process The Papers Of Filipinos They Want Hire , Uot He Said To Make Government Transactions With Ofws Simpler ,

Duterte thanks Puregold for assisting SMEs

IMMENSE GRATITUDE. President Rodrigo Roa Duterte is greeted by Puregold Price Club Inc. Chairman Lucio Co and wife, Vice-Chairman Susan Co, during the Puregold Sari-Sari Store Negosyo Convention 2022 themed "Tuloy natin and Pagsasama, tuloy natin ang Pag-asenso" at the World Trade Center in Pasay City on Wednesday (May 18, 2022). Duterte expressed his "immense gratitude" to Puregold for assisting small businesses like the sari-sari stores. (Presidential photo by Alfred Frias) MANILA - President Rodrigo Roa Duterte on Wednesday expressed gratitude to Puregold Price Club Inc. for helping small and medium enterprises (SMEs) that are "vulnerable to external shocks." In a speech delivered in Pasay City, Duterte recognized Puregold's efforts to assist SMEs such as community stores by holding its 14th Tindahan ni Aling Puring Negosyo Convention. "Let me thus express my immense gratitude to Puregold not only for conducting this event, but also for making ....

Pasay City , Rodrigo Roa Duterte , Puregold Price Club Inc , Puregold Tindahan Ni Aling Puring Negosyo Convention , Tindahan Ni Aling Puring Negosyo Convention , World Trade Center , Puregold Price Club , Aling Puring Negosyo , Aling Puring Negosyo Convention , Aling Puring , Immense Gratitude President Rodrigo Roa Duterte Is Greeted By Puregold Price Club Inc Chairman Lucio Co And Wife , Ice Chairman Susan Co , Uring The Puregold Sari Store Negosyo Convention 2022 Themed Quot Tuloy Natin And Pagsasama , Uloy Natin Ang Pag Asenso Quot At The World Trade Center In Pasay City On Wednesday May 18 , 022 Duterte Expressed His Quot Immense Gratitude To Puregold For Assisting Small Businesses Like The Sari Stores Presidential Photo By Alfred Frias Manila President Rodrigo Roa On Wednesday Price Club Inc Helping And Medium Enterprises Smes That Are Vulnerable External Shocks Ina Speech Delivered In Pasay City , Uterte Recognized Puregold 39s Efforts To Assist Smes Such As Community Stores By Holding Its 14th Tindahan Ni Aling Puring Negosyo Convention Quot Let Me Thus Express My Immense Gratitude Not Only For Conducting This Event , Ut Also For Making It The Company 39s Fundamental Purpose To Assist Small Businesses Like Sari Stores , Uot He Said Duterte The Event Would Spur More Economic Activities Amid Prevailing Coronavirus Disease 2019 Covid 19 Pandemic , Ince Smes Are Quot One Of The Backbones Our Economy If Covid 19 Pandemic Has Emphasized Anything , T Is That Smes Are Vulnerable To External Shocks Such As Financial Crises , Nd Forced Changes In The Business Movement And Environmenti Thus Wish To Stress That This Activity Puregold Has Created Is Significant Truly Worth Commending , Uot He Said This , S He Acknowledged That Smes Created Quot Countless Jobs For The Country 39s Growing Labor Force , Duterte Said , Tilize The Filipino People 39s Talents And Help Government In Fight Against Hunger Poverty Quot As Our Smes Are Exposed To Meaningful Exchanges With Suppliers , Anufacturers And Fellow Entrepreneurs ,