Philippine inflation accelerated to a three-month high in March as oil and food costs rose, supporting the central bank’s decision to unwind stimulus measures. Bonds fell.
Bangko Sentral ng Pilipinas pared back a lending program for banks last month and said it will consider doing more to reduce cash in the economy, even as it kept interest rates at a record low. Policy makers will “monitor demand conditions” for any need to adjust the monetary policy stance, Governor Amando Tetangco said today.
THE Department of Trade and Industry (DTI) revealed that latest export data showed that Davao Region is picking up.
Quoting a report from the Bureau of Customs (BoC), DTI 11 Regional Director Marizon S. Loreto said that while Davao Region had a negative growth rate of more than 10 percent for 2009 as compared to 2008, it is fast closing in on the gap, with only negative one percent of growth in the first two months of 2010 versus 2009.
As of February this year, the region reaped an export value of US$151.79 billion.
“The decrease of fresh banana exports is being covered up by tremendous increases of other products such as banana chips, rubber, and gold with silver. Coconut products topped growth levels among other product groups, with coconut oil, coconut shell charcoal, and copra leading positive trends,” she said.
