When the Liquidity Lift from a Bank Reserve Cut Is Not Inflationary
For the 2ndtime this year, the Bangko Sentral ng Pilipinas (BSP) slashed the bank reserve requirement ratio by another 1% to 18% (effective June)...
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Who's In, Who's Out
From a non-lawyer's perspective, the expulsion of the Chief Justice (CJ) of the Supreme Court may be among the outcomes of regime change instituted...
230 Views
As Dollar Rebounds, EM and Europe Consensus Narrative Shaken
Overweight EM debt and the euro were two of the most consensus trades coming into the year, and I’ve been bearish - both are unravelling fast as...
286 Views
Rate Hike Confirms Hawkish Guidance
Executive Summary: With its policy rate hiked by 25bp (now at 3.25%), the Monetary Board (MB) of the Bangko Sentral ng PIlipinas (BSP) backed up...
233 Views
Returning to Robust GDP Growth
Executive Summary: Non-consumption sources provided the lift to 1Q18 GDP growth. While HH consumption was subdued amid rising inflation and TRAIN’s...
223 Views