Friday, September 29, 2023
manilastandard.net
ADVERTISEMENT
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
    • Young Life
  • Special Pages
    • Pets
    • Tech
      • Gadgets
      • Computers
      • Business
      • Tech Plus
    • On the Road
      • Sedan
      • SUV
      • Truck
      • Bike
      • Accessories
      • Motoring Plus
      • Commuter’s Corner
    • Home & Design
      • Residential
      • Commercial
      • Construction
      • Interior
    • Spotlight
    • Cravings
    • Environment & Sustainability
    • Agriculture
    • Pop.Life
      • Newsmakers
      • Hangouts
      • A-Pop
      • Post Its
      • Performances
      • Malls & Bazaars
      • Hobbies & Collections
    • Events
      • Seminars
      • Exhibits
      • Community
    • Biyahero
      • Travel Features
      • Travel Reels
      • Travel Logs
    • Gallery
      • Photos
      • Videos
  • Advertise with Us
No Result
View All Result
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
    • Young Life
  • Special Pages
    • Pets
    • Tech
      • Gadgets
      • Computers
      • Business
      • Tech Plus
    • On the Road
      • Sedan
      • SUV
      • Truck
      • Bike
      • Accessories
      • Motoring Plus
      • Commuter’s Corner
    • Home & Design
      • Residential
      • Commercial
      • Construction
      • Interior
    • Spotlight
    • Cravings
    • Environment & Sustainability
    • Agriculture
    • Pop.Life
      • Newsmakers
      • Hangouts
      • A-Pop
      • Post Its
      • Performances
      • Malls & Bazaars
      • Hobbies & Collections
    • Events
      • Seminars
      • Exhibits
      • Community
    • Biyahero
      • Travel Features
      • Travel Reels
      • Travel Logs
    • Gallery
      • Photos
      • Videos
  • Advertise with Us
No Result
View All Result
manilastandard.net
No Result
View All Result
Home Business Money

ING Bank expects BSP to trim rates next week

Julito G. RadabyJulito G. Rada
September 20, 2019, 8:25 pm
in Money
Reading Time: 2 mins read
A A
Share on FacebookShare on TwitterShare on Email

Dutch financial giant ING Bank expects the Bangko Sentral ng Pilipinas to extend its easing cycle with another 25-basis-point cut in policy rates to 4 percent next week amid the deceleration in inflation rate.

“Latest data from the Philippines shows a sharp slide in consumer price inflation in August below the central bank’s 2 to 4 percent policy target which set another 25bp rate cut in stone—the third this year taking the BSP’s overnight borrowing rate to 4.00 percent,” Prakash Sakpal, ING Bank economist for Asia, said in a report Friday.

“This is one of the two Asian central banks [the other being Bank Indonesia] enjoying significant policy space from 175bp of rate hikes last year,” Sakpal said.

Sakpal does not not think the BSP will to “use up all that policy leeway going forward unless pent-up government spending fails to revive GDP growth above 6 percent in the second half of 2019.”

The gross domestic product growth averaged 5.5 percent in the first half, following a four-year low growth of 5.5 percent in the second quarter, slower than 5.6 percent a quarter ago. Economists said blamed the slowdown to the delayed approval of the national budget for 2019.

President Rodrigo Duterte signed the P3.7-trillion national budget for 2019  only in April after months of impasse between the two houses of Congress.

The Monetary Board, the policy-making body of Bangko Sentral, is scheduled to hold its next meeting on Sept. 26.

Earlier this week, BSP Governor Benjamin Diokno said the timetable for the reduction in policy rates remained despite the recent attacks in Saudi Arabia’s oil facilities which many say could impact on the domestic economy and trigger inflation pressures.

“As long as the oil prices don’t exceed $85 per barrel, we are still within our inflation target [of 2 to 4 percent],” Diokno recently said at the sidelines of an event held at Bonifacio Global City in Taguig.

Global oil prices fell on Tuesday, following Monday’s increase after the drone attacks on Saudi oil facilities. Oil prices retreated after the Saudi energy minister said the kingdom’s oil supply would soon be back online.

Brent crude futures, the international benchmark, declined 6.55 percent or $4.52, to $64.46 per barrel. The contract increased as much as 19.5 percent on Monday to $71.95 per barrel, the biggest rise in history after a series of attacks on Saudi’s facilities that disrupted its production.

Diokno said the BSP was closely monitoring the global and domestic markets’ response to the developments in Saudi Arabia.

The Monetary Board on Aug. 8 cut the overnight borrowing rate by 25 basis points to 4.25 percent, taking into account mainly the continued downward trajectory of inflation rate. The interest rates on the overnight deposit and lending facilities were reduced to 3.75 percent and 4.75 percent, respectively.

Tags: Bangko Sentral ng PilipinasBSPInflation rateING Bankpolicy rates
ADVERTISEMENT
Julito G. Rada

Julito G. Rada

Related Posts

DBP supports gov’t logistics master plan

byJulito G. Rada
September 28, 2023, 6:45 pm
0
8
DBM identifies projects eligible for over P9 billion LGU support fund

State-run Development Bank of the Philippines said Thursday it will extend technical and financial assistance to strategic initiatives to ensure...

Read more

Thrift banking industry remains strong — BSP

byJulito G. Rada
September 28, 2023, 6:30 pm
0
8
Policy rate kept at 2% in MB’s last meeting this year

Bangko Sentral ng Pilipinas Deputy Governor Chuchi Fonacier said the thrift banking industry remains strong and resilient despite the uncertainties...

Read more

Finastra, Tonik renew digital banking tie-up in the Philippines

byManila Standard Business
September 28, 2023, 11:25 am
0
8
Neobank Tonik says deposits surpass P5b

Finastra renewed its partnership to power Tonik’s end-to-end core banking capabilities with Finastra Essence in the Philippines. Under the new...

Read more

Deloitte acquires Philippines-based financial advisory firm Primeiro

byManila Standard Business
September 28, 2023, 9:59 am
0
8
Deloitte acquires Philippines-based financial advisory firm Primeiro

Global professional services group Deloitte acquired Philippines-based financial advisory firm Primeiro Partners (Primeiro) to establish and stamp its leadership in...

Read more

BPI eyes P5b from fixed-rate bond offering

byJulito G. Rada
September 26, 2023, 9:30 pm
0
8
BPI encourages SME clients to avail of 60-day reprieve

Bank of the Philippine Islands, the third-largest lender in terms of assets, said Tuesday it will offer peso-denominated fixed-rate bonds...

Read more

BPI to issue P5 billion worth of bonds

byJulito G. Rada
September 26, 2023, 1:26 pm
0
8
BPI’s income increased 1.8% to P17.5b in 1st three quarters

Bank of the Philippine Islands, the third-largest lender in terms of assets, said Tuesday it will offer peso-denominated fixed-rate bonds...

Read more

Print Edition

View More

Recent Posts

  • ADB approves capital management reforms to unlock $100 billion in new funding
  • House okays P5.768-t post-pandemic budget
  • ‘OVP intel funds invalid but not impeachment ground’
  • Q3 pro-admin sentiment down to 43%—survey
  • Congress passes several crucial priority measures
  • Marcos, Macron tackle WPS security issues, bilateral ties
  • Socorro ‘cult’ leader held in contempt
  • P3.6-b shabu seized in Pampanga

Advertisement

Latest News

Marcos, Macron tackle WPS security issues, bilateral ties

byCharles Dantesand1 others
September 29, 2023, 12:50 am
0
8
Marcos, Macron tackle WPS security issues, bilateral ties

President Ferdinand Marcos Jr. and French President Emmanuel Macron discussed security issues in the West Philippine Sea (WPS) in a...

Read more

Socorro ‘cult’ leader held in contempt

byMacon Ramos-Araneta
September 29, 2023, 12:45 am
0
8
Marcos, Macron tackle WPS security issues, bilateral ties

A Senate committee on Thursday cited Socorro Bayanihan Services Inc. (SBSI) leader Jey Rence Quilario, also known as Senior Agila,...

Read more

P3.6-b shabu seized in Pampanga

byRey E. Requejoand1 others
September 29, 2023, 12:40 am
0
8
Southwoods nails Seniors’ Fil golf crown

Law enforcement agencies have seized P3.6 billion worth of methamphetamine hydrochloride or "shabu" in a warehouse in Mexico City, Pampanga,...

Read more

Meta putting AI in smart glasses

byAFP
September 29, 2023, 12:35 am
0
8
Facebook-parent Meta appeals UK ruling on Giphy tie-up

Meta chief Mark Zuckerberg on Wednesday said the tech giant is putting artificial intelligence into digital assistants and smart glasses...

Read more

Ateneo remains top PH school in global rankings

byGabriellea B. Pariño
September 29, 2023, 12:30 am
0
8
Ateneo rated as country’s top learning institution

The Ateneo de Manila University remained the top school in the Philippines, according to the latest global rankings published by...

Read more

Advertisement

ADVERTISEMENT
Facebook Twitter Instagram Youtube

ABOUT US

Manila Standard

Manila Standard website (manilastandard.net), launched in August 2002, extends the newspaper’s reach beyond its traditional readers and makes its brand of Philippine news and opinion available to a much wider and geographically diverse readership here and overseas.

Digital Edition

In tone and content, the online edition mirrors the editorial thrust of the newspaper. While hewing to the traditional precepts of fairness and objectivity, MS believes the news of the day need not be staid, overly long or dry. Stories are succinct, readable and written in a lively style that has become a hallmark of the newspaper.

Download – Today’s Paper

Search

No Result
View All Result

6th Floor Universal Re Bldg., 106 Paseo De Roxas cor. Perea Street, Legaspi Village, 1226 Makati City Philippines

Trunklines: 832-5554, 832-5556, 832-5558

© 2021 Manila Standard - Designed and Developed by Neitiviti Studios.

No Result
View All Result
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
    • Young Life
  • Pets
  • Tech
    • Gadgets
    • Computers
    • Business
    • Tech Plus
  • ON THE ROAD
    • Sedan
    • SUV
    • Truck
    • Bike
    • Accessories
    • Motoring Plus
    • Commuter’s Corner
  • Home & Design
    • Residential
    • Commercial
    • Construction
    • Interior
  • Spotlight
  • Cravings
  • Environment & Sustainability
  • Agriculture
  • Pop.Life
    • Newsmakers
    • Hangouts
    • A-Pop
    • Post Its
    • Performances
    • Malls & Bazaars
    • Hobbies & Collections
  • Events
    • Seminars
    • Exhibits
    • Community
  • Biyahero
    • Travel Features
    • Travel Reels
    • Travel Logs
  • Gallery
    • Photos
    • Videos
  • Advertise with Us

© 2021 Manila Standard - Designed and Developed by Neitiviti Studios.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Install Manila Standard Web App

Install App