Philippine Peso Weakens Against US Dollar Amid Inflation Concerns
Economy

Philippine Peso Weakens Against US Dollar Amid Inflation Concerns

The Philippine peso weakened against the US dollar, weighed down by expectations of an accelerated inflation rate in October. Despite a temporary rebound following presidential remarks, price pressures continue to weigh on the market.

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  • PH Shares Rebound on Bargain Hunting Ahead of Inflation Data

    Philippine stocks rebounded on Wednesday, driven by bargain hunting after recent market weakness. Investor sentiment is cautious as they await the upcoming inflation data, which could signal the Bangko Sentral ng Pilipinas' monetary policy direction.

  • Philippine Economy's Year-End Rebound May Be Dampened by Inflation - UA&P

    The Philippine economy is projected to rebound in the fourth quarter due to increased holiday spending and remittances from overseas workers. However, elevated inflation could temper this recovery, with third-quarter GDP growth estimated at around 2%, according to UA&P.

  • BSP Signals Rate Cuts Distant Amid Persistent Inflation

    Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona Jr. indicated that while the economy may have begun recovering in the third quarter, interest rate cuts are likely still distant due to persistently high inflation expectations. GDP growth is anticipated, but price pressures are tempering monetary easing.

  • PSEi Dips as Investors Await Inflation Data, Factory Output Woes

    The Philippine stock market closed lower as investors adopted a cautious stance ahead of the release of October inflation data. Weak factory activity, contracting for the second consecutive month, also weighed on sentiment, pushing the benchmark index down by 0.99%.