Philippine CB Unlikely To Change Policy Stance Soon: Capital Economics

Trading 26 sept 2017 Commentaire »

The latest policy statement suggest that the Philippines central bank is likely to leave rates on hold both this year and next, Alex Holmes, an economist at Capital Economics, said.

The Monetary Board of the Bangko Sentral ng Pilipinas, governed by Nestor Espenilla, held the overnight reverse repurchase facility steady at 3.0 percent on September 21.

Headline inflation rebounded over the past couple of months, but remained comfortably within bank's 2 to 4 percent target range, the economist observed. The acceleration is largely driven by a pickup in fuel inflation.

Core inflation figures suggest that underlying price pressures remain in check.

Looking ahead, one-off factors may cause inflation to rise next year, the economist said.

In its statement, BSP highlighted the expected impact on inflation of the first package of the Comprehensive Tax Reform Plan, which includes the introduction of new consumption taxes, Holmes noted.

However, any impact on inflation is likely to be transitory and policy makers generally don't adjust monetary policy in response to one-off increases, the economist added.

On the back of movements in the peso and oil prices, the BSP revised up slightly its inflation forecast for this year and kept its forecast for 2018 at 3.2 percent.

The bank is also confident about the outlook for economic growth, noting that the "outlook for domestic economic activity remains firm."

Capital Economics expects the economy to expand at a decent pace of 6.5 percent annually in this year and 2018.

"Tightening policy in the developed world is unlikely to prompt BSP to act either," Holmes pointed out.

The start of balance sheet normalization by the US Federal Reserve last week and the ECB's hints of tapering its asset purchase programme may be a cause for concern, Holmes noted.

Nonetheless, the Philippines has a balanced current account and low foreign currency debt and, besides, as in the rest of Emerging Asia, there is little connection between QE and capital outflows from Filipino assets.

"Overall, there was nothing in today's statement that would suggest BSP is in any rush to hike rates," Holmes said.

"Hence, in contrast to the consensus, we expect no change to the policy rate this year or next."


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How An Eruption Of Bali’s Volcano Mount Agung Will Impact Indonesia Tourism

Trading 26 sept 2017 Commentaire »
Apart from the residents living in the area, the tourism industry might also be impacted if Mount Agung in Bali erupts in the coming days since it is one of the main tourist attractions on the Indonesian island. The flow of incoming tourists has not decreased despite news of heavy seismic activity in Bali. Around 50,000 to 60,000 visitors continue to flock to the island from all over the globe.

‘Supergirl’: Kara Gets Heartfelt Advice From Cat In New Season 3 Trailer

Trading 26 sept 2017 Commentaire »
Cat gives Kara a heartfelt advice in a new trailer for Season 3 of “Supergirl.”

CBS’ ‘Young Sheldon,’ ‘Big Bang Theory’ Crossover Possible In The Future?

Trading 26 sept 2017 Commentaire »
“Young Sheldon” Season 1 premiered right after “Big Bang Theory” on Monday night. The series introduced young Sheldon (Iain Armitage) and his family while living in East Texas. The prequel series to the hit CBS sitcom takes place in 1989 when Sheldon was still a young boy. The events that took place in the new show, as well as some of Sheldon’s thoughts and realizations, were narrated by the adult Sheldon (Jim Parsons).

‘Scorpion’ Season 4 Spoilers: Will Paige, Walter Break Up In Episode 2?

Trading 26 sept 2017 Commentaire »
“Scorpion” Season 4 was off to a good start! The hit CBS TV series opens with Paige (Katharine McPhee) and Walter (Elyes Gabel) coming to terms with their new relationship status. It’s the morning after for the couple, finally getting the chance to be alone together and away from Team Scorpion. Paige asks Walter how he feels now that things are becoming more serious between them, and Walter has the perfect response to his girlfriend’s question.

Correction: UK Budget Logs Lowest Deficit For August In 10 Years

Trading 26 sept 2017 Commentaire »

Note: Correction from source

The UK budget deficit decreased to its lowest August level since 2007 on higher sales tax, official data revealed Thursday.

Public sector net borrowing excluding interventions decreased by GBP 1.2 billion from the previous year to GBP 5.7 billion in August, the Office for National Statistics reported.

This was the lowest August borrowing since 2007. The deficit was also well below the expected level of GBP 7.1 billion.

As a result, the budget deficit for the first five months of the fiscal year fell by GBP 0.1 billion to GBP 28.2 billion. The government forecast budget deficit of GBP 58.3 billion for the year ending March 2018.

In August, revenues increased by 3.5 percent year-on-year as VAT advanced 5.6 percent, which was the highest on record for August. Due to timing, self assessed income tax fell 1.2 percent.

Meanwhile expenditure dropped 0.1 percent with interest falling 3.8 percent.

Even assuming there is a bit of a deterioration, the Chancellor is still likely to have some extra money to play with - on top of the scope already contained within his fiscal mandate, Paul Hollingsworth, a UK economist at Capital Economics, said.

As a result, some easing back on austerity to help households struggling in the face of the squeeze on real incomes looks likely, he noted.

Public sector net debt totaled GBP 1,773.3 billion at the end of August, which was equivalent to 88.0 percent of gross domestic product, an increase of GBP 150.9 billion on August 2016.


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‘Difficult People’ Season 3 Finale: How Julie And Billy Met Revealed

Trading 26 sept 2017 Commentaire »
At its core, Hulu’s “Difficult People” is about one thing: the friendship between Julie (Julie Klausner, who also created and co-writes the series) and Billy (Billy Eichner). Two people who seemingly hate everything and everyone, love each other. The chemistry they have together as bantering friends is perfection and is, along with the writing, what makes the show as great as it is. It’s this kind of relationship between characters, which is reminiscent of Rory and Lorelai on “Gilmore Girls” and Mike and Harvey on “Suits,” that makes the show a must-watch.

Kylie Jenner Shows Off Flat Stomach In Throwback Photo Amid Pregnancy Reports

Trading 26 sept 2017 Commentaire »
Kylie Jenner is still active on Instagram amid the pregnancy rumors plaguing her. On Monday, the "Life of Kylie" star took to Instagram to share another photo of her. In the snap, Jenner's white off-the-shoulder tank top highlights her flat belly and slim waist. The reality star did not leave her followers wondering if that's her current body figure because she captioned that it's a throwback photo. "throwback Mary Jo is the perfect red @kyliecosmetics," Jenner wrote.

‘The Good Doctor’ Season 1: Freddy Highmore-Starrer Receives Positive Feedback From Viewers

Trading 26 sept 2017 Commentaire »
Only one episode of “The Good Doctor” has been released, but the Freddie Highmore-starrer has already tugged at the heartstrings of viewers.

‘The Good Place’ Season 2, Episode 3 Sneak Peeks: Eleanor Meets Chidi

Trading 26 sept 2017 Commentaire »
Michael (Ted Danson) re-launches his latest version of The Bad Place in Season 2, episode 3 of “The Good Place.” Although Eleanor (Kristen Bell) no longer has a note for herself to find Chidi (William Jackson Harper) this time around, it still doesn’t take long before she meets him.