Growth in the Philippines exceeds expectations

Article Abstract:

The Philippines' National Economic and Development Authority reports that real gross national product (GNP) increased 7.7% in the 2nd qtr. 1996 compared to the same period in 1995. GNP growth for the 1st half 1996 reached 7.1%, exceeding the forecast of 6.5%. Year-to-year inflation dropped in Aug. 1996 for the fifth consecutive month to 7.9%. Government economic planners are optimistic that the figures will further boost investor confidence.

Statistics, Economic development, Economic indicators

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Surge in rate of treasury bill heightens economic fears

Article Abstract:

The rise in the Philippines' interest rates raises doubts on the economic performance of the country for 1997. Yield on 91-day Treasury bills during the first week of September 1997 reached its highest level in more than five years by registering an increase from 14.2% to around 19.3%. Finance Secretary Roberto De Ocampo, however, believes that high interest rates would not hurt the economy since the present rate is only temporary.

Government Short-Term Rates, Interest Rates, Prices and rates, Treasury securities

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Markets cheer reductions in the overnight interest rates

Article Abstract:

The Philippine stock exchange market posts a high trading index in July 18, 1997 as a result of the Central Bank's cut on overnight interest rate. The reduction is expected to continue in a bid to control speculations and normalize the financial market. Some skeptics believe that it will take some time before interest rate bounces back to its original level with the rate inflation is going.

Exchange Rates, Laws, regulations and rules, Central banks, Currency devaluation, Devaluation (Currency)

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