Bangko Sentral Ng Pilipinas
Differentiated Growth and Covid Prospects According to Efficiency of Vaccine Roll-Outs
March 25, 2021
The dollar has been taking its cue lately from vaccine news. The United States has handled the roll-out much better the Europe. Britain had been getting vaccinated at a good clip, too, but now faces a possible EU ban of vaccine exports to the U.K.. Japan’s Covid spread has also picked up lately. The proliferation […] More
Projected Euroland Growth in 2021 Revised Lower
February 11, 2021
Many Asian markets were closed today due to holiday observances. China, Taiwan, Singapore, Hong Kong, and South Korea were among the countries observing the lunar New Year, and Japan celebrated National Foundation Day. The lack of Asian market leadership confined the dollar to narrow ranges. Compared to Wednesday closing levels, the dollar is unchanged on […] More
Dollar Slinks to Another 32-Month Low and Several Central Banks Leave Interest Rates As Is
December 17, 2020
The DXY trade-weighted dollar index fell below 90 to as low as 89.79. Overnight losses occurred across of broad cross-section of key bilateral dollar relationships amounting to 0.9% versus the kiwi, 0.8% relative to sterling, 0.7% versus the Australian dollar, 0.5% against the yen and euro, 0.3% vis-a-vis the Canadian dollar, and 0.2% versus the […] More
Sharp Equity Declines but Mixed Dollar
August 20, 2020
The U.S. equity market correction triggered by downbeat FOMC minutes released yesterday afternoon set the tone for overnight losses in European and Asian markets where bourses tumbled 3.7% in South Korea and 3.3% in Taiwan and by at least 1.0% in China, Hong Kong, Japan, Singapore, India, Germany, France, Italy, U.K., and Spain. Indonesia’s market did […] More
Fourth Filipino Central Bank Rate Cut of 2020
June 25, 2020
At the Central Bank of The Philippines, the key overnight reverse repo rate was reduced by 50 basis points to 2.25%. Such had been also cut by a half percentage point in both March and April and by 25 basis points back in February. Officials released a statement, identifying a deterioration in global GDP conditions […] More
Distress Persists that Runaway U.S. Outbreak Will Constrain Recovery
June 25, 2020
America’s bad Covid-19 numbers continue to dominate world financial markets this Thursday. China, Hong Kong and Taiwan are closed for the Dragon Boat Festival, but in other stock markets in the Pacific Rim, share prices closed with losses of 2.5% in Australia, 2.3% in South Korea, 1.5% in Singapore, 1.4% in Indonesia and 1.2% in […] More
Another Filipino Central Bank Interest Rate Cut
April 16, 2020
The central bank in the Philippines implemented a third interest rate cut since early February, reducing its policy rate by 50 basis points after an unscheduled meeting to 2.75%. Earlier cuts of 50 basis points and 25 bps were made on March 19 and February 6. The Monetary Board took today’s action to strongly encourage […] More
Dollar Extends Rise Amid Pandemic-Related Uncertainty
April 16, 2020
Overnight dollar gains prior to today’s report on U.S. new jobless insurance claims range from 1.0% versus the peso, 0.5% against sterling, 0.4% relative to the Australian dollar, 0.3% versus the euro and kiwi, 0.2% against the Swiss franc, and 0.1% relative to the yen, yuan, and loonie. In futures trading, the 10-year U.S. Treasury […] More
Filipino Monetary Easing
March 19, 2020
At Bangko Sentral ng Pilipinas, the policy interest rate of the Philippines was cut to 3.25% today from 3.75%. That increment of reduction doubles the previous easing done in February and brings the total cut since May 2019 to 125 basis points. Inflation is firmly anchored within the central bank target of 2-4% according to […] More
Rate Cut in the Philippines
February 6, 2020
Also as had been anticipated by analysts, the Filipino reverse repo rate was cut 25 basis points to 3.75%. Such is the fourth such reduction since last May and the first change since September. Inflation has risen to 2.9%, but that is still just in the middle of the central bank’s target of 2-4%. “the […] More
