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INFLATION SEEN TO SPUR ANOTHER 25-BPS RATE HIKE www.businessmirror.com.ph
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Saturday, April 25, 2026 Vol. 21 No. 193
P25.00 nationwide | 14 pages | 7 DAYS A WEEK
FPI ASKS SC:
Stop lower courts’ TRO on product standards checks
RAISING STANDARDS Federation of Philippine Industries (FPI) Chairman Emeritus Jesus Arranza and Director Ernesto Ordoñez respond to media questions during a press conference on the group’s appeal to the Supreme Court to restrict lower courts from issuing temporary restraining orders and injunctions that halt the implementation of government-mandated product standards and public health regulations enforced by the DTI and FDA, warning that such orders can suspend nationwide safeguards and expose consumers to substandard goods. NONIE REYES RIDING THE RISING TIDE OF COSTS Passengers board a 2GO vessel at Pier 4 en route to Palawan, as both local and foreign tourists opt for sea travel as a more cost-conscious alternative to
air transport amid surging fuel prices and global tensions, even as expectations of a possible Bangko Sentral ng Pilipinas rate hike highlight persistent inflation pressures shaping mobility and travel choices. BERNARD TESTA
A
By Reine Juvierre S. Alberto
NOTHER 25-basis-point rate hike could be delivered by the hawkish Bangko Sentral ng Pilipinas (BSP) in its next rate-setting meeting in June as further inflationary pressures lie ahead for the country. BMI, a unit of Fitch Solutions, said in a commentary that it expects the BSP to raise the key policy rate again by 25 basis points to 4.75 percent from the current 4.5 percent. “Acting sooner would help to re-anchor inflation expectations before broader price pressures become more entrenched,” BMI said. Beyond June, BMI said the BSP is seen to pause for the rest
of the year, given the “increasingly fragile” growth backdrop. BMI said its tracker points to a 3.6-percent year-on-year growth in the first quarter of the year, below the government’s target of 5 to 6 percent, as government outlays remain constrained by the fallout from the corruption scandal. Manufacturing activity also appears to be losing momentum as Continued on A2
Eli M. Remolona Jr., BSP Governor and Chairman of the Monetary Board (on rate policy outlook): “We stay vigilant, and we’ll do as many hikes as necessary.”
Jean De Castro, Manulife Investment Management (on market interpretation of policy credibility): “The fact that long-end yields are generally holding steady suggests investors see policy credibility and the likelihood that the BSP will act to help contain second-round inflation, and growth softness offsetting inflation fears.”
BMI (on economic growth constraints influencing policy pause later): “Given the weak growth backdrop and limited fiscal space, we think the BSP will prefer to keep rates on hold to support the economy.”
By Ada Pelonia
T
HE Federation of Philippine Industries (FPI) urged the Supreme Court to restrict lower courts from issuing temporary restraining orders (TROs) on government-mandated product standards aimed at protecting consumers against substandard goods. The FPI appealed to the SC through a letter-petition, citing the current system that allows “non-compliant traders” to obtain injunctive relief from mandatory product standards and public health product regulations enforced by the Department of Trade and Industry (DTI) and the Food and Drug Administration (FDA) at the trial-court level.
Such a move places standards enforcement “on hold” nationwide and exposes consumers to substandard goods, according to the group. The letter was signed by FPI President John Reinier Dizon, FPI Chair Elizabeth Lee, and FPI Chairman Emeritus Jesus Arranza. “They did this, he explained in a press conference in San Juan on Friday, because “the current system allows any RTC [regional trial court] to issue an injunction against any product standards. We feel that that’s wrong, because standards are supposed to be for the consumers’ benefit.” The group said the SC has also been exercising its power to promulgate rules in Continued on A2
Pax Silica AI hub eyed to start within Marcos term—BCDA
Stocks, peso end week down on T Mideast worries, BSP rate hike
By Bless Aubrey Ogerio
T
HE rate hike decision of the Bangko Sentral ng Pilipinas (BSP) and sustained worries on the Middle East conflict resulted in the negative close of the local bourse’s main index Friday, but the peso gained against the US dollar. The Philippine Stock Exchange index (PSEi) shed further by 0.67 percent to 5,943.49 points, and the broader All Shares by 0.52 percent to 3,352.22 points. Most of the sector indices also finished the week in the negative territory, with Financials posting the biggest drop at 1.63 percent. It was trailed by Property, 1.15 percent; Mining and Oil, 1.04 percent; Holding Firms, 0.61 percent,
and Services, 0.07 percent. Only the Industrial index gained during the day after rising by 0.10 percent. Volume reached 2.1 billion shares amounting to P5.5 billion. Decliners led advancers at 110 to 80, while 64 shades were unchanged. Aside from the 25 basis points hike decision in the central bank’s key rates a day ago, Philstocks Financials Inc. also cited as among the factors for the day’s trading monetary officials’ inflation expectations. The average inflation rate this year is expected to rise to 6.3 percent, way higher than the upper
end of the BSP’s 2-4 percent target band, due mainly to the impact of the Middle East conflict. “Uncertainties over the conflict in the Middle East also continued to weigh on sentiment,” it said in a market report. This also negatively affected the local currency, which closed at 60.7 to a greenback from its 60.48 close a day ago. It started the day weak, at 60.69, from its 60.25 opening Thursday, and traded between 60.8 and 60.67. The average rate for the day stood at 60.73. Volume reached USD1.38 billion, lower than the previous session’s USD1.82 billion. PNA
6.3%
Expected average inflation rate this year, way higher than the upper end of the BSP’s 2-4 percent target band, due mainly to the impact of the Middle East conflict.
HE proposed Pax Silica artificial intelligence (AI) hub is being positioned for initial rollout within the current administration, with Philippine authorities targeting progress within the term, even as key details remain under negotiation. The Bases Conversion and Development Authority (BCDA) and the Department of Trade and Industry (DTI) said the project is still in its early stages and will move forward in phases once formal agreements are in place. A supplemental agreement outlining the terms is targeted within the next six months. BCDA President and Chief Executive Officer Joshua Bingcang said the government aims to advance the project within the Marcos administration, with a technical team expected to be deployed this year to conduct feasibility studies and planning. The hub is proposed to rise within New Clark City, citing its
“We aim to advance the project within the Marcos administration.”— BCDA President and CEO Joshua Bingcang on rollout ambitions
proximity to major infrastructure such as Clark International Airport and the North-South Commuter Railway. However, the exact location and boundaries of the site remain subject to agreement between the Philippines and its partner country. Continued on A2
PESO EXCHANGE RATES n US 60.4650 n JAPAN 0.3788 n UK 81.4524 n HK 7.7204 n CHINA 8.8495 n SINGAPORE 47.3196 n AUSTRALIA 43.1176 n EU 70.6594 n KOREA 0.0409 n SAUDI ARABIA 16.1214 Source: BSP (April 24, 2026)