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Third straight day that peso hit new record lows (Eagle News) – The Philippine peso sank to a new record low of P58.49 to a US dollar on Thursday, September 22, the third straight day that the peso had gone down to record lows. On Wednesday, Sept. 21, the peso went down to P58 to a dollar, and the previous day, Tuesday (Sept. 20), it closed at P57.48. This came about as the US […]
Pres. Marcos Jr., signs EO that covers land distributed under Comprehensive Agrarian Reform Program (Eagle News) – President Ferdinand “Bongbong” Marcos Jr., declared a one-year moratorium on the payment of land amortization and interests that will benefit thousands of agrarian reform beneficiaries. President Marcos Jr., signed the executive order declaring the moratorium on his birthday, Tuesday, September 13, 2022. The Department of Agrarian Reform said that the measure is expected to benefit 654,000 agrarian […]
(Eagle News) – The Bangko Sentral ng Pilipinas set its key policy rate at 3.25 percent, after the Monetary Board decided to raise the interest rate on the BSP’s overnight reverse repurchase by 75 basis points. This is effective Thursday, July 14, after the morning’s regular meeting of the Monetary Board. BSP Governor Felipe Medalla said that “accordingly, the interest rates on the the overnight deposit and lending facilities were raised to 2.75 percent […]
MOSCOW, Russia (AFP) — Russia’s central bank announced Monday it was raising its key interest rate to 20 percent from 9.5 percent as the West pummelled the country with sanctions over Moscow’s invasion of Ukraine. “The Bank of Russia’s board of directors has decided to raise the key rate to 20 percent,” the central bank said in a statement. It said it was taking the emergency measure because the Russian economy’s situation had “drastically […]
by John BIERS Agence France Presse NEW YORK, United States (AFP) — Wall Street stocks plummeted Wednesday as worries about surging US interest rates and the impact of trade disputes prompted a broad-based selloff that slashed more than three percent from major indices. The rout in US shares came on the heels of substantial losses on European bourses, due in part to tensions between Brussels and Rome over Italian budget plans that have revived fears […]
The U.S. decision to raise interest rates will have some impact on China’s trade but how much is not immediately known, the Chinese commerce ministry said on Thursday (December 17). The Federal Reserve hiked interest rates for the first time in nearly a decade on Wednesday (December 16), signalling faith that the U.S. economy had largely overcome the wounds of the 2007-2009 financial crisis. The U.S. central bank’s policy-setting committee raised the range of its […]
