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Saturday, April 18, 2026 Vol. 21 No. 186
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BSP MAY YET HOLD OFF T ON RATE HIKE–EXPERT
After Moody’s review, BSP chief vows continued financial stability HE Bangko Sentral ng Pilipinas (BSP) has vowed to continue to safeguard financial stability through “sound regulations” and “prudent management” of international reserves after the Philippine banking system secured a “favorable assessment” from one of the leading global credit rating agencies. BSP Governor Eli M. Remolona Jr. said this in a statement on Friday after the Central Bank welcomed Moody’s favorable assessment of the country’s banking system and external accounts. “We welcome Moody’s positive assessment. It confirms what we have been seeing: our banks are strong, and our external buffers are solid,” Remolona said.
Baa2 Investment-grade rating, stable outlook
Maintained by Moody’s on April 14, 2026, reaffirming the Philippines’ creditworthiness and low default risk. “The Philippine banking system is well capitalized, profitable, and competently managed.”—Moody’s “We welcome Moody’s positive assessment. It confirms what we have been seeing: our banks are strong, and our external buffers are solid.”— Eli M. Remolona Jr.
See “Moody’s,” A2
Angara-Mathay rallies DOT team to boost PHL tourism, livelihood
“Inflation pass-through is likely to pick up in coming months, driven by faster fiscal spending, possible transport fare hikes, higher rice and food prices, and PHP-driven imported inflation, which could eventually prompt a one-off rate hike to safeguard price stability.” — Standard Chartered Bank Asia Economist Jonathan Koh
ROADBLOCK ECONOMICS Along Osmeña Avenue in Manila, rows of jeepneys
sit idle as rising fuel costs continue to squeeze operators out of the road, even as monetary authorities are expected to keep policy settings steady amid supply-driven inflation pressures. With diesel expenses cutting deep into already thin margins, many drivers have been forced to scale back or suspend trips, thinning out one of the capital’s busiest transport corridors. At the macro level, analysts see the Bangko Sentral ng Pilipinas holding its policy rate at 4.25% this April, as inflation remains largely driven by external and supply-side factors rather than domestic demand. ROY DOMINGO
T
By Andrea E. San Juan
HE Bangko Sentral ng Pilipinas (BSP) still has room to keep the policy rate unchanged at its April 23 policy meeting as demand-side pressures remain contained, according to an economist of Standard Chartered Bank.
In a statement on Friday, Standard Chartered Bank Asia Economist Jonathan Koh said the bank has changed its policy call as it now expects BSP to hold the policy rate at 4.25 percent in April, instead of the bank’s earlier call for a 25-basis-point hike despite raising its inflation forecast to 4.5 percent. “BSP is likely reluctant to tighten policy response to a supplydriven inflation increase, where monetary policy effectiveness is limited—consistent with its deci-
sion to stay on hold at the off‑cycle March meeting,” Koh said. While the 4.1-percent March inflation print exceeded BSP’s forecast range, Koh said “underlying demand-side pressures remain contained in our view, with seasonally adjusted monthon-month core inflation tracking its usual trend and limited pass‑through so far.” The Standard Chartered’s economist cited BSP Governor Eli See “BSP,” A2
All systems go: Cebu steps up readiness for Asean Summit By Carmel Pedroza
Chan pushed for faster implementation of infrastructure projects, particularly roadworks and lighting installations, while Mandaue City Mayor Jonkie Ouano highlighted deficiencies in streetlighting along UN Avenue. Environmental and beautification initiatives are likewise being ramped up. In Lapu-Lapu City, weekly coastal cleanups are under way in
C
EBU CITY—With less than a month before the 48th Asean Summit and Related Meetings, preparations in Central Visayas are intensifying, with a strong focus on delivering a curated tourism experience for visiting delegates. According to an update from the Cebu Provincial Government, organizers are rolling out heritage tours, island-hopping activities, and cultural showcases designed to highlight Cebu’s rich history and natural attractions, positioning the province as more than just a host—but as a destination. The Tourism and Hospitality Cluster has begun inspecting billeting hotels while fine-tuning guest experiences that aim to leave a lasting impression on Southeast Asian leaders and participants arriving for the May 7-8, 2026 summit. These efforts form part of a broader push to ensure that Cebu’s renowned hospitality is on full display throughout the high-level gathering. Preparations are in full swing across agencies in Region 7, following a coordination meeting spearheaded by Cebu Provincial Governor Pamela Baricuatro. She underscored the need for discipline and sustained collaboration among national and local government units to ensure a seamless hosting of the prestigious event. “What matters most is consistency and close coordination. I
TOURISM Secretary-designate Ma. Bernadita ‘Dita’ Angara-Mathay (center) meets on April 14 with heads of the Department of Tourism’s attached agencies, who presented their key programs and challenges in the wake of the Middle East conflict. At right are Tourism Promotions Board COO Margarita Montemayor-Nograles, Tieza COO Mark T. Lapid, and other officials. PHOTO COURTESY DOT
By Ma. Stella F. Arnaldo
Special to the BusinessMirror
T
OURISM Secretarydesignate Ma. Bernadita “Dita” AngaraMathay underscored the continued importance of the tourism industry in driving inclusive economic growth. In a news statement on Friday, the new head of the Department of Tourism (DOT) acknowledged the “[uncertain] and increasingly complex” global environment, which “call for clarity of purpose, strong coordination, and steady leadership across all levels of the Department.”
She added: “Tourism remains a vital pillar of inclusive economic growth. Our collective responsibility is to ensure that the sector continues to support livelihoods, strengthen enterprises, and create opportunities for our communities.” Angara-Mathay issued the statement after meeting with DOT officials and heads of attached agencies on Wednesday and Thursday, when they briefed her on their respective programs and projects. “She asked each of us to share our programs and challenges, and how she can help,” shared one head of an attached agency, See “Tourism,” A2
See “Cebu,” A2
CEBU Governor Pamela Baricuatro leads a high-level coordination meeting in Cebu City, bringing together regional officials to synchronize tourism showcases, infrastructure upgrades, and security measures ahead of the 48th Asean Summit. CEBU CITY PIO
encourage everyone to remain focused, disciplined, and united in action,” Baricuatro said, emphasizing that the summit presents an opportunity to showcase Cebu’s excellence on the global stage. The summit will bring together leaders from across Southeast Asia, with Cebu serving as one of its primary venues. The Mactan Expo Center has been designated as the main site for key events, including the opening ceremonies, plenary sessions, and gala dinner. Meanwhile, selected premier resorts in Mactan will host the leaders’ retreat, and the Mactan World Museum will function as the official media center. Government agencies reported significant progress in infra-
structure and site development. The Department of Public Works and Highways in Central Visayas is undertaking major improvements, including upgrades to the Marcelo Fernan Bridge, asphalt overlay along the Mactan Circumferential Road, and road rehabilitation projects. Streetlight installation, road safety enhancements, and routine maintenance works across Cebu City are also ongoing. Local leaders, however, flagged areas requiring urgent attention. Cebu City Mayor Nestor Archival raised concerns over waste management in the South Road Properties, calling for intensified cleanup operations. Lapu-Lapu City Mayor Cindi
SITTING PRETTY Foreign buyers test massage chairs at the Canton Fair in Guangzhou, southern China’s Guangdong province on Wednesday, April 15, 2026. As trade activity buzzes on the showroom floor, fresh data shows China’s economy grew 5% year-on-year in the first quarter—beating expectations and accelerating from 4.5% in the previous quarter—despite early shocks from the ongoing Iran war, now in its seventh week. AP/ANDY WONG
PESO EXCHANGE RATES n US 59.9660 n JAPAN 0.3769 n UK 81.1520 n HK 7.6643 n CHINA 8.7888 n SINGAPORE 47.1282 n AUSTRALIA 42.9297 n EU 70.6579 n KOREA 0.0405 n SAUDI ARABIA 15.9905 Source: BSP (April 17, 2026)