BSP signals possible rate cut in Aug.

By Luisa Maria Jacinta C. Jocson, Reporter THE BANGKO ng Pilipinas (BSP) stood pat for a fifth straight meeting but signaled a “less hawkish” tone amid lower-than-expected inflation. This as the central bank now sees the possibility of monetary easing as early as August. The Monetary Board on Thursday left its target reverse repurchase rate unchanged at a 17-year high of 6.5%, as expected by 17 out of 19 analysts in a BusinessWorld poll last week. Interest rates on the

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Remittance growth slows in March

By Luisa Maria Jacinta C. Jocson, Reporter MONEY SENT HOME by overseas Filipino workers (OFWs) in March recorded its slowest pace of growth in nine months, data from the Bangko Sentral ng Pilipinas (BSP) showed. Cash remittances — which fuels household spending — grew by 2.5% to $2.74 billion in March from $2.67 billion in the same month last year. The growth in cash remittances eased from the 3% recorded in February. It was also the slowest pace of annual

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House OK’s rice tariffication law amendments on 2nd reading

By Kenneth Christiane L. Basilio THE HOUSE of Representatives on Tuesday approved on second reading a bill that seeks to allow the National Food Authority (NFA) to sell rice at subsidized prices during emergencies including shortages. Philippine congressmen through a voice vote agreed to expand the agency’s regulatory functions over the rice industry through House Bill No. 10381 amid spiraling prices of the staple. The bill seeks to amend the Rice Tariffication Law (RTL), which gave private traders full control

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