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SYDNEY, Australia (AFP) — Australia’s central bank held interest rates at a record low on Tuesday even as the economy grows strongly, with officials taking into account soft inflation figures and weak wages growth. The cash rate has been unchanged at 1.50 percent since the Reserve Bank of Australia last cut it in August 2016, to support non-mining industries as an unprecedented investment in resources waned. “The low level of interest rates is continuing to […]
(Eagle News) — For Senator Francis Escudero, the temporary suspension of quarry operations will only worsen inflation. “Amidst the government’s efforts to control inflation, here is a policy decision from one agency that will erase whatever little gains they have achieved at reining (inflation) in,” he said in a statement. Escudero was referring to the Department of Environment and Natural Resources, which ordered the 15-day suspension in select areas after a landslide in Itogon, Benguet; and in […]
(Eagle News)–President Rodrigo Duterte on Friday, Sept. 21, blamed the rise in inflation on the prices of oil. In a speech in Lapu Lapu, Cebu, Duterte clarified however that it was “not an excuse.” “I admit there is an inflation. But the number one culprit is price of oil,” he said. Inflation reached 6.4 percent in August. The Department of Finance recently released measures the government was undertaking to arrest inflation, noting that the “highest contributors […]
TOKYO, Japan (AFP) — Prices in Japan edged up modestly in August, according to government data on Friday, as the world’s third-largest economy continues its years-long battle with deflation. Inflation stood at 0.9 percent year-on-year in August, still far below the Bank of Japan’s two-percent target, even though slightly higher than 0.8 percent in July and June and 0.7 percent in May. The latest figure was in line with market consensus. With fresh food and […]
(Eagle News) – The Philippine government ordered the release of some 4.6 million bags of rice from the warehouses of the National Food Authority to retailers in public markets as well as in grocery stores as part of its immediate measures to address food supply issues. This was revealed by the government’s economic managers who assured the public that there would be adequate food supply in the country as vegetables and other food products, […]
(Eagle News)–The Palace on Saturday, Sept. 9, said Senator Antonio Trillanes IV was using the country’s inflation problems as a “political issue.” “In fact, nagsimula na iyong problema sa inflation bago pa siguro lumabas itong isyu ng Trillanes,” Presidential Spokesperson Harry Roque said. Trillanes is going head-to-head with the Palace after Proclamation 572 signed by President Rodrigo Duterte declared the amnesty granted to him as void ab initio. The proclamation had cited as bases Trillanes’ […]
(Eagle News)—-President Rodrigo Duterte on Friday, Sept. 7, blamed the high inflation rate on the tariffs imposed by US President Donald Trump on select products. In a speech before the Filipino community, Duterte clarified, however, that he was “not apologizing.” He said the government was “trying to control it.” Also on Friday, the Department of Finance released a list of measures it said would be implemented to arrest inflation, which the Philippine Statistics Authority pegged at […]
(Eagle News)– The Department of Finance on Friday, Sept. 7, released a list of measures it said would be implemented to arrest inflation. In a statement on its website, the DOF said these measures were arrived at after a meeting among members of the Economic Development Cluster of President Rodrigo Duterte’s Cabinet on Wednesday, Sept. 5. The meeting took place on the same day the Philippine Statistics Authority reported that inflation had accelerated to 6.4 percent […]
(Eagle News) — Speaker Gloria Macapagal-Arroyo on Wednesday, Sept. 5, said the government was “doing what it can” to address inflation in the country. Arroyo, who is also an economist, made the statement following the Philippine Statistics Authority’s report inflation had accelerated to 6.4 percent in August. “I’m sure the government is taking steps to address the situation. When I called them up today, they were meeting so I’m sure that they’re looking at it,” […]
(Eagle News) — Inflation reached 6.4 percent in August, the Philippine Statistics Office reported on Wednesday, Sept. 5. According to the PSA, this was the fastest recorded since the 6.6 percent inflation rate in March 2009. Earlier, the Department of Finance predicted an inflation rate of 5.88 percent.
(Eagle News) — Inaasahang maaabot ng inflation ang pinakamataas na lebel nito ngayong third quarter ng taon. Ayon kay Bangko Sentral ng Pilipinas (BSP) Governor Nestor Espenilla Jr., kabilang sa mga factor na makapagdudulot ng mataas o mabilis na inflation ay ang mas mataas na excise taxes sa tobacco products at ang mas mataas na presyo ng produktong petrolyo sa pandaigdigang merkado. Inaasahan aniya na ang inflation ay babalik sa target na 2 hanggang 4 […]
(Eagle News) — Senator Sherwin Gatchalian has proposed the creation of a multi-agency task force that he said would be responsible for mitigating the effects of rising inflation in the country. In a statement on Wednesday, Aug. 22, Gatchalian said the Department of Finance can be in charge of creating the task force, together with the Department of Budget and Management. “It can be a multi-sectoral and multi-departmental task force so that we can come […]
