Treasury bill yields continued to ease at Monday’s auction as investors positioned for a possible shift toward monetary easing by the Bangko Sentral ng Pilipinas (BSP) amid weakening economic momentum.
Average rates on Philippine treasury bills fell across the board at Monday’s auction, as investors positioned for the possibility of further monetary easing amid signs that economic growth may be losing steam.
Philippine equities continue to show underlying strength despite the PSEi’s recent mild pullback, which analysts view as a natural bout of profit-taking after a sharp advance.
Domestic liquidity grew by 7.6 percent year-on-year to P19.4 trillion in November, according to preliminary data from the Bangko Sentral ng Pilipinas (BSP), reflecting continued expansion in money supply even as growth eased from the previous month.
The government is moving to safeguard fuel and fertilizer supplies for the sugar industry as the sector enters the most resource-intensive phase of the harvest season.
Transportation Secretary Giovanni Lopez has directed the Civil Aviation Authority of the Philippines (CAAP) to reduce Passenger Service Charges (PSC) and airport navigation fees in airports operated by the agency.
Universal Robina Corp., the listed food unit of the Gokongwei Group, posted modest revenue growth last year but saw profits ease as unusually high coffee input costs squeezed margins, highlighting how volatile commodity prices continue to challenge food manufacturers.
Economic ministers of the Association of Southeast Asian Nations on Friday called for urgent de-escalation of tensions in the Middle East, warning that prolonged conflict could ripple across global energy markets and threaten Southeast Asia’s fragile economic recovery.