Peso Hits New Record Low Ahead of BSP Policy Decision
The Philippine peso hit a new record low on Wednesday, pressured by expectations of a more hawkish US Federal Reserve that strengthened the dollar. The local currency depreciated by 27.1 centavos to close at 63.361 against the dollar, as investors await the Bangko Sentral ng Pilipinas' next policy move.
Read up to 3 eligible full articles per Japan day (JST) for free
Create a free account to open up to 3 eligible full articles per Japan calendar day (JST). Headlines and summaries remain available across ASEAN 7.
Related articles
- BSP Urged to Consider Jumbo Rate Hike Amid Mounting Inflation Risks
New York-based GlobalSource Partners has urged the Bangko Sentral ng Pilipinas (BSP) to "seriously consider" a more aggressive half-point increase in its policy rate to anchor inflation expectations and contain further price hikes, citing mounting inflationary pressures.
- Meat Importers Oppose Safeguard Measures Amid Inflation Concerns
A group of meat importers in the Philippines has opposed an inquiry by the Department of Agriculture into additional tariff measures, citing fears of stoking food inflation and disrupting raw material supplies for local food manufacturers.
- Philippines, Japan eye conclusion of trade pact revisions this month
The Philippines and Japan are expected to conclude negotiations on revising their bilateral trade agreement this month, potentially leading to further tariff reductions on Philippine exports, particularly bananas, boosting the Philippine economy.
- Supreme Court Declares Billions in Budget Items Unconstitutional, Lawmakers React
The Philippine Supreme Court has declared billions of pesos in budget items from the 2024-2026 General Appropriations Acts (GAA) unconstitutional. Lawmakers welcomed the ruling as a victory for fiscal discipline, though friction between legislative chambers is anticipated in future budget deliberations.