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Philippine central bank to hold rates on strong growth, low inflation MANILA: The Philippine central bank is expected to leave its main policy rate steady on Thursday and keep it unchanged for at least a few more months as low inflation and solid economic growth allow it to buck the global tide of monetary policy easing.All 11 economists polled by Reuters expect the Bangko Sentral ng Pilipinas (BSP) to leave the overnight borrowing rate steady at 4 percent for a fourth straight meeting.At least one analyst raised the possibility the central bank would cut banks' reserve requirement ratio, currently at 20 percent, on Thursday to help contain the peso's strength, which is causing headaches for exporters and dependents of overseas Filipino workers."Growth may be ailing elsewhere, but not in the Philippines. Consumption remains solid, thanks to steady demand, helped by a favourable demographic transition and excess liquidity," Trinh Nguyen, economist at HSBC, said in a research note.The Bank of Thailand cut ...

Australia to join Asia infrastructure bank if conditions met SYDNEY, Australia will join a China-backed infrastructure bank if conditions such as multilateral and transparent governance are met, Prime Minister Tony Abbott said Wednesday, flagging an announcement "in the next few days".China and 20 other countries signed a memorandum last October of understanding to establish the Beijing-headquartered US$50 billion Asian Infrastructure Investment Bank (AIIB) bank.Britain, France, Germany and Italy have also announced plans to join.But Washington has voiced concern about whether the bank would meet ...
HSBC chairman says new banker accountability rules are reasonable LONDON: New rules being rolled out to make bankers more accountable were "entirely reasonable" given the pain Britain suffered in the financial crisis, HSBC Chairman Douglas Flint said on Tuesday. The new "senior managers' regime" will make top bankers directly accountable for rule breaches on their patch from 2016, but it has been criticised by some bankers and financial lawyers for going too far and hard to apply in practice. The rules reverse the "burden ...
India's central bank rejects Tata offer for DoCoMo's Teleservices stake MUMBAI: Indian conglomerate Tata Sons Ltd on Tuesday said the country's central bank has rejected its request to buy Japanese group NTT DoCoMo Inc's stake in their Indian telecom joint venture at a premium to its current fair value.In January the Reserve Bank of India had said it was "inclined to accept" Tata's proposal to pay $1.1 billion for DoCoMo's near 26 percent stake in Tata Teleservices, the seventh-biggest mobile phone network operator, but had ...
China's short-term rates finally fall, eases financial system strains SHANGHAI: The cost of short-term loans for Chinese banks has moved sharply down over the past week, as direct guidance from the central bank finally showed signs of gaining traction in money markets, although the cost of longer term debt has risen slightly since early March.Despite two interest rate cuts to the benchmark one-year loan rate since November 2014, short-term borrowing costs for financial institutions have been rising steadily since the fourth quarter, while the ...
Fed's Bullard says zero US rates no longer appropriate LONDON: Federal Reserve policymaker James Bullard said on Tuesday that zero percent interest rates were no longing appropriate in the United States, and that a rate hike in the summer would still leave policy extremely accommodative."Zero is no longer the appropriate interest rate for the U.S. economy," Bullard said during a panel session at London City Week.Monetary policy would still be "extremely accommodative" even if the central bank began with a small increase in rates ...
Turkey's central bank says food prices, forex rates key inflation risks ISTANBUL: Turkish central bank said on Thursday the current course of food prices and exchange rate developments were the key risk factors regarding the inflation outlook.The bank also said it expected the current account balance to improve further throughout 2015 on the back of improving trade balance and the moderate course of consumer loans.Copyright Reuters, 2015 ...

 



 
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ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJanuary
Trade Balance $-999 mln
Exports $2.064 bln
Imports $3.063 bln
WeeklyMarch 13, 2015
Reserves $16.273 bln