MANILA, Philippines–The Bangko Sentral ng Pilipinas will likely keep its policy rates at current record lows until the middle of 2010 to further boost the economy, which is seen to recover only modestly from the impact of the global economic crunch.
This was the projection of investment bank Barclays Capital, which said the BSP would want to witness faster credit growth to support more economic activity.
Prakriti Sofat, regional economist of Barclays Capital, said in an analysis of the Philippine economy that the BSP may allow the peso to strengthen a bit to help maintain a benign inflation.
“From a policy perspective, we think that the central bank will lean toward using the currency as an instrument to contain inflation, with our yearend target being 46 [$1:P46],” the bank economist said.
After hovering in the 47-to-a-dollar territory earlier in the year, the peso has moved to the 46 range and touched 45 in intra-day trade last Tuesday because of rising foreign exchange inflows, mainly remittances from Filipinos abroad.
An appreciation of the peso makes imported goods cheaper, thereby tempering overall inflation. –Michelle Remo, Philippine Daily Inquirer
September 18 –
International Equal Pay Day
“Increase wages now,
more than other cost items.
For widespread, practical equality!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the recommendations of the 2021 ILO Commission of Inquiry
against serious violations of protocols of
Forced Labour and Freedom of Association.
Accept the National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands
#Report Corruption #SearchPosts #TakePicturesVideos
October –
Monthly Observances:
Industry and Commerce Safety Month
National Statistics Month
Local Government Month
Consumer Welfare Month
Cooperative Month
National Quality and Productivity Improvement Month
National Health and Wellness Tourism Month
National Indigenous Peoples Month
Weekly Observances:
Week 1: Elderly Filipino Week
Week 2: National Health Education Week
Local Government Week
National Mental Health Week
October 17-23:
National Week for Overcoming Extreme Poverty
October 18 – 24:
United Nations Week
Last Week:
Nurses’ Week
Consumers’ Protection Week
Week of the 4th Sunday:
Barrio Farmers’ Week
Daily Observances:
First Monday (Oct 4): Universal Children’s Day i
n the Philippines
Oct 5: National Teachers’ Day
Oct 10: Local Government Day
Third Thursday (Oct 14): Conflict Resolution Day
Oct 21: Tenants’ Emancipation day
Oct 24: United Nations Day
Oct 29: National Indigenous People’s Thanksgiving Day
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