Presidential Communications Operations Office



  PIA Bldg, Visayas Ave, Diliman, Quezon City, Philippines
  Tuesday, 22 October 2019 News Before 1 Feb 2012. Click for Latest
Web PIA  
 
home
 
about
 
fotos
 
info
 
links
 
ncrr01carr02r03calmimr05r06r07r08r09r10r11r12r13
 << October 2019 >> 
S M T W T F S
1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 31
Special News Editions:
English.Tagalog.Cebuano
Ilocano.Waray.Hiligaynon
Pangasinan.Other
PIA Specials:
NEW! Cabinet Officials
Jobs.Slides.Specials.Ads. Events.ASEAN.Multimedia
Visitors since 15 Feb 2011:
PIA News Archive:
English.Tagalog.Cebuano
Waray.Hiligaynon.Ilocano
Pangasinan.All
PIA Archive News Reader

PIA Press Release
2009/06/17

BSP says RP economy remains stable despite global crisis

Manila (17 June) -- The Bangko Sentral ng Pilipinas (BSP) on Tuesday said that the country's economy remains stable inspite of the current global financial turmoil.

"Kung ating natatandaan sa mga nagdaang araw, ang ating ekonomiya ay nananatiling matatag inspite of global crisis (If we can recall in the past days, our economy remains stable inspite of global crisis)," BSP Deputy Governor Diwa Guinigundo stressed in a radio interview Tuesday morning.

This, as the BSP has announced that it will continue to ease policy stance as inflation outlook remains favorable despite low growth in the local economy.

"Yung mga remittances na pinapadala ng ating mga OFWs ay tumaas at kumita tayo ng US$ 1.4M (Remittances sent by our overseas Filipino workers went up and the country earned US$ 1.4 million)," Guinigundo further said.

He noted that the BSP's primary mandate is price stability in line with its inflation targeting framework.

Inflation which is the rate of price increases in the country continues to decelerate and stood at 3.3 percent in May 2009, following its "peak" at 12.5 percent in August last year.

With the deceleration of inflation, the BSP decided to cut its policy rates starting in December 2008 with the policy rates at 175 basis points as of May 2009, bringing its overnight borrowing rate at 4.25 percent, the lowest since May 15, 1992 and the overnight lending rate at 6.25 percent. (PIA) [top]

|«  prev  next  »|
DAILY NEWS LIST:
»Davao-Uijeongbu to sign LOI for sisterhood agreement
»SM intensifies sanitation program, foot bath in mall entrances
»SM turns over 21st school building and their first in Davao City
»DSWD launches Moral Renewal Action Plan
»Business park to soon rise in Carmen, Davao Norte
»42nd Araw ng Davao Norte fetes shared responsibility
»Farmers expect better income with RUBBER Project
»Davao dad bats for Lake Venado temporary closure
»ARMM grade-schoolers get boost with AusAID, USAID reading program
»Cebuano News: Rebelding NPA nga mibalik sa sabakan sa kagamhanan gitaga-an ug panginabuhi-an
|«  prev  next  »|

Philippine Official Gazette | Office of the President | Presidential Communications Operations Office
For comments and feedback, please email PIA Newsdesk
Copyright © 2005 Philippine Information Agency
PIA Building, Visayas Avenue, Diliman, Quezon City 1101 Philippines