eseoulpost
BusinessUAE
Slowdown of PH inflation rate in June '17 as expected — BSP
min  |  min
폰트키우기 폰트줄이기 프린트하기 메일보내기 신고하기
승인 2017.07.05  
트위터 페이스북 미투데이 요즘 네이버 구글 msn
   

MANILA, July 5 -- Further deceleration of Philippines' inflation rate to 2.8 percent in June 2017 from month-ago's 3.1 percent is a "welcome news" and is in line with expectations, Bangko Sentral ng Pilipinas (BSP) Governor Nestor Espenilla Jr. said Wednesday.
The slowdown of rate of price increases for the second consecutive month this year is within the central bank's 2.4 to 3.2 percent forecast range for June.
Highest level, so far, this year is 3.4 percent, hit last March and April.
Last month's level, however, is higher than year-ago's 1.9 percent and brought the six-month average this year to 3.1 pecent, still above the midpoint of the government's two to four percent target.
During the same period, core inflation, which excludes volatile food and oil items, also slowed to 2.6 percent from month-ago's 2.9 percent, bringing the year-to-date average to 2.8 percent.
Espenilla said continued slowdown of inflation gives Philippines' monetary officials more leeway in instituting measures that would further support the country's financial market.
"This validation gives us the space to carefully consider our policy options with respect to fine tuning deployment of our monetary instruments to further the market-based development of the domestic financial market," he added.
With the sustained slowdown of domestic inflation rate, ANZ Research cut its inflation forecast for this year and the next.
In a research note, the researh arm of Australia-based financial institution slashed its inflation forecast for this year to three percent from 3.2 percent and to 3.3 percent for 2018, from 3.5 percent.
It, however, clarified that the latest foreacasts "do not consider the proposed tax reforms which could push inflation higher at least in the intial stages of implementation."
It said that, for one, the proposed hike in oil and vehicles excise taxes is expected to also increase transportation cost, which, it noted, accounts for about eigh percent of consumer price index (CPI).
Citing estimates by the Department of Finance (DOF), ANZ Research said impact of these excise tax hikes on headline inflation is about 0.9 percentage points during the tax reform's first year of implementation.
"We will revisit our inflation forecasts based on the progress the government makes in passing this tax package," it said.
Along with the cut in its inflation forecast, ANZ Research also revised its forecast for the hike in the BSP rates from two 25 basis points increase in the second half of 2017 to just one 25 basis points hike in the last quarter of 2017.
It also now considers additional 50 basis points increase in the first quarter of 2018. (Joann S. Villanueva/PNA)

 

< 저작권자 © eseoulpost 무단전재 및 재배포금지 >
폰트키우기 폰트줄이기 프린트하기 메일보내기 신고하기
트위터 페이스북 미투데이 요즘 네이버 구글 msn 뒤로가기 위로가기
이 기사에 대한 댓글 이야기 (0)
자동등록방지용 코드를 입력하세요!   
확인
- 200자까지 쓰실 수 있습니다. (현재 0 byte / 최대 400byte)
- 욕설등 인신공격성 글은 삭제 합니다. [운영원칙]
이 기사에 대한 댓글 이야기 (0)
Most Read
1
NMC and EPA Develop New Strategies to Support UAE’s Publishing Industry
2
‘Bring home a friend’ for the holidays — Teo
3
Arab Federation for Human Rights refutes Qatar claims about boycott
4
PH 6th in SEA in quality of nationality index
5
IAEA DG urges member states to engage in Abu Dhabi Ministerial Conference on Nuclear Power
6
UAE Ambassadors engage in cultural diplomacy at the Juilliard School
7
UAE at the forefront of efforts to revitalise United Nations
8
UAE donates US$10m to help recovery efforts in Florida following Hurricane Irma
9
Teo asserts PHL role in world tourism
10
Abu Dhabi has world’s largest population of Indian Ocean humpback dolphins
Photo News Green Biz
Global platform for smart & sustainable cities officially  launched in Seoul
Global platform for smart & sustai...
min
Global platform for smart & sustainable cities to be launched by World Green Economy Organisation (WGEO) in Seoul on May 23
Global platform for smart & sustai...
min
50 successfully rehabilitated sea turtles released for Endangered Species Day
50 successfully rehabilitated sea ...
min
UAE is well placed to take lead in renewable energy storage
UAE is well placed to take lead in...
min
Bee’ah’s campaign for ‘Recycling Just Got Easier’ sparks community action
Bee’ah’s campaign for ‘Recycling J...
min
Photo News Sports
Cebu to host Ironman 70.3 Asia-Pacific C’ship anew   in 2018
Cebu to host Ironman 70.3 Asia-Pac...
min
PyeongChang Olympics wins new strongest ally -- the president
PyeongChang Olympics wins new stro...
min
Official mascot of FIFA Club World Cup UAE 2017 unveiled
Official mascot of FIFA Club World...
min
Official FIFA Club World Cup UAE 2017 mascot to be unveiled Tuesday
Official FIFA Club World Cup UAE 2...
min
Badminton tournament opens for multicultural families
Badminton tournament opens for mul...
min
UAE Jiu-Jitsu Federation announces Abu Dhabi Grand Slam
UAE Jiu-Jitsu Federation announces...
min
Sharjah’s Al Manal Forum Lauds Key Media Support for Sports of People with Disabilities
Sharjah’s Al Manal Forum Lauds Key...
min
Zayed bin Hamdan bin Zayed crowns winners of Dalma Dhow Race
Zayed bin Hamdan bin Zayed crowns ...
min
Photo News World
Cebu to host Ironman 70.3 Asia-Pacific C’ship anew   in 2018
Cebu to host Ironman 70.3 Asia-Pac...
min
PyeongChang Olympics wins new strongest ally -- the president
PyeongChang Olympics wins new stro...
min
Official mascot of FIFA Club World Cup UAE 2017 unveiled
Official mascot of FIFA Club World...
min
Official FIFA Club World Cup UAE 2017 mascot to be unveiled Tuesday
Official FIFA Club World Cup UAE 2...
min
Badminton tournament opens for multicultural families
Badminton tournament opens for mul...
min
UAE Jiu-Jitsu Federation announces Abu Dhabi Grand Slam
UAE Jiu-Jitsu Federation announces...
min
Sharjah’s Al Manal Forum Lauds Key Media Support for Sports of People with Disabilities
Sharjah’s Al Manal Forum Lauds Key...
min
Zayed bin Hamdan bin Zayed crowns winners of Dalma Dhow Race
Zayed bin Hamdan bin Zayed crowns ...
min
Photo News Opinion
S. Korea not considering tactical nuclear armament: Cheong Wa Dae
S. Korea not considering tactical ...
min
Seoul says THAAD necessary to bring N. Korea to dialogue
Seoul says THAAD necessary to brin...
min
McDonald's Korea head expresses regret over 'patty scandal'
McDonald's Korea head expresses re...
min
PM: THAAD deployment 'difficult yet inevitable decision'
PM: THAAD deployment 'difficult ye...
min
Additional THAAD launchers to be deployed Thursday: villagers
Additional THAAD launchers to be d...
min
Court hands down 4-yr prison term to ex-spy chief over election meddling
Court hands down 4-yr prison term ...
min
Moon calls for capabilities to counter N. Korea's 'asymmetric' threats
Moon calls for capabilities to cou...
min
Foreigners may intervene in Samsung management after court ruling
Foreigners may intervene in Samsun...
min
Newspaper AboutNews ReportAdvertiseComplaintsPrivacy PolicyJuvenile protectionRejection of E-mail Collection
Gangnam-gu, Teheran 52 street in Tehran Bldg, 616(Yeoksam-dong)  |  Main Phone: 02) 563-0604  |  Fax: 02) 538-5665
Chairman : jeong-woo Lee  |  Advisor : byung-il Min  |  Publisher: jae-mo Kah  |  Editors: il-hong Kim
Registration Number 1928 Seoul ah  |  eseoulpost.com / eseoulpost.net / Global Korea.,Ltd
Copyright © 2011 eseoulpost. All rights reserved. mail to jaemokah@daum.com , kih10kr@empas.com/ www.globalkorea.info
arabafrica.net / UAE Interract / Emirtes News Agency(WAM)/ http://wam.org.ae / www.uaeinteract.com