Peso's Weakness Tied to Consumption Culture, Export Shortfall: BSP Governor
Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona Jr. attributed the peso's depreciation to the nation's consumption culture and export deficit, highlighting over-reliance on remittances and BPO earnings. He mentioned the Pax Silica project as a potential export booster.
This article requires PRO
This article is outside the free access window or is a special report. PRO unlocks it and the full archive.
Related articles
- BSP Rate Hike Primarily for Inflation, Not Peso Defense: GlobalSource
GlobalSource Partners analysts suggest the Bangko Sentral ng Pilipinas' recent rate hike should prioritize inflation control over defending the peso, emphasizing that price stability is the primary goal of monetary policy.
- Petron Profit Halves in 9 Months Amid Soaring Fuel Costs
Petron Corp., the Philippines' largest oil company, reported a 44% drop in net income to P5.4 billion for the January-September period, primarily due to rising fuel costs and geopolitical tensions impacting operational expenses.
- PEZA Bullish on Record-High Investment Approvals Amid Strong Momentum
The Philippine Economic Zone Authority (PEZA) anticipates surpassing its 2012 record for investment approvals, with projections reaching P320 billion by year-end. This follows the agency exceeding its annual target, signaling strong economic momentum and optimism for continued growth.
- Philippine Shares Rebound Ahead of Inflation Data Release
The Philippine stock market rebounded from a two-day decline as investors sought bargain stocks ahead of the inflation release. The main index closed higher, with the financial sector showing the largest gains.