MANILA ON THE MOVE Runners surge through EDSA during the Galaxy Manila Marathon by RunRio, copresented by SM Supermalls, highlighting the growing popularity of long-distance running and Manila's emergence as a premier marathon destination.
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BSP RATE MOVE: BANKS, THINK TANKS ARE SPLIT www.businessmirror.com.ph
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Monday, June 15, 2026 Vol. 21 No. 244
P25.00 nationwide | 2 sections 20 pages | 7 DAYS A WEEK
By Andrea E. San Juan @andreasanjuan
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AYS ahead of the third scheduled policy meeting for the year, bank analysts and think tanks seem to be split on how the central bank will dictate the monetary policy path moving forward. This, as it moves to combat the rising prices of goods, with the looming threat of El Niño and rising fertilizer costs, coupled with second-round effects not yet kicking in.
In separate commentaries and televised interviews, some private bank economists say inflation may have already peaked in April,
while some fear inflation is yet to peak in the latter part of the year given that second-round effects See “BSP,” A2
THAI PREMIER, WORLD ICONS HONOR PHL INDEPENDENCE By Malou Talosig-Bartolome
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ROM Bangkok’s Baiyoke Sky Tower to the Burj Khalifa in Dubai and Man‑ hattan’s parade route, Filipinos worldwide marked the 128th Anniversary of the Proclama‑ tion of Philippine Independence on June 12, 2026. The commem‑ orations highlighted the Philip‑ pines’s expanding cultural foot‑ print, economic influence, and diplomatic reach. The observances highlighted the Philippines’s expanding cul‑ tural footprint, economic influ‑
ence, and diplomatic reach. In Bangkok, the commemo‑ ration was marked by top‑level diplomatic attendance. Philippine Ambassador to Thailand Millicent Tinta Cruz Paredes said she was “humbled and honored” to have Thai Prime Minister Anutin Charnvirakul personally grace the celebration. In Singapore, Foreign Minis‑ ter Vivian Balakrishnan, along with Singaporean Members of Parliament Vikram Nair and Yip Hon Weng, graced the diplomat‑ ic reception hosted by Philippine See “Thai,” A2
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Freshly Brewed June 8, 2026 | 10 AM
BEYOND THE RECIPE CLANG GARCIA ON FOOD, HERITAGE, AND SAMAR’S SECRET KITCHENS » A12 Philippine Ambassador to the World Food Travel Association
Hormuz watch: Supply chains at risk By Bless Aubrey Ogerio
BusinessMirror
CLANG GARCIA
GLOBAL GLOW FOR PHILIPPINE INDEPENDENCE From Bangkok and Singapore to Beijing, Dubai, and New York and beyond, the world joined Filipinos in celebrating the 128th Anniversary of Philippine Independence on June 12, 2026. High-level diplomatic receptions attended by government leaders, ministers and ambassadors coincided with the illumination of iconic landmarks— including Dubai’s Burj Khalifa, New York’s One World Trade Center and Niagara Falls—in the colors of the Philippine flag. The global observance highlighted the enduring contributions of overseas Filipinos and the Philippines’s growing cultural, economic and diplomatic footprint across continents.
ANNE RUTH DELA CRUZ BusinessMirror Wine&Dine Editor
@blessogerio
HE possible disruption of shipping through the Strait of Hormuz poses risks not only to the Philippines’s energy supply but also to key industries that depend on imported fuel, natural gas and fertilizers, accord‑ ing to the Bureau of International Trade Relations (BITR). The warning came after Iran an‑ nounced on June 11 the closure of the Strait of Hormuz to oil tankers and commercial vessels following
recent strikes by the United States, raising concerns about potential disruptions to one of the world’s most critical trade and energy cor‑ ridors. BITR director Marie Sherylyn Aquia told BusinessMirror that the waterway remains highly signifi‑ cant to the country’s trade and sup‑ ply chains because its impact ex‑ tends beyond crude oil shipments. “Disruptions not only constrain oil flows but also affect critical in‑ puts such as natural gas and fertil‑ izers. This poses risks to industrial and agricultural production and
food security in general,” Aquia said in a Viber message on Thurs‑ day. Despite mounting geopolitical tensions in the Middle East, the trade bureau said available data has yet to show a significant impact on Philippine merchandise exports. Aquia noted that export perfor‑ mance improved between February and March, following the onset of the Middle East crisis, while April data showed only a slight slow‑ down. Latest figures from the Philip‑ pine Statistics Authority showed
merchandise exports rose by 6.3 percent year-on-year to $7.21 bil‑ lion in April, marking the country’s 16th consecutive month of export growth. While goods exports have re‑ mained resilient, BITR said servicerelated industries may face greater pressure if the conflict persists. The bureau, an attached agency of the Department of Trade and Industry (DTI), does not yet have updated data on trade in services but expects transport and travelrelated activities to slow amid See “Supply,” A2
PESO EXCHANGE RATES n US 61.4970 n JAPAN 0.3831 n UK 82.2461 n HK 7.8478 n CHINA 9.0787 n SINGAPORE 47.7832 n AUSTRALIA 43.0233 n EU 70.9429 n KOREA 0.0404 n SAUDI ARABIA 16.3839 Source: BSP (June 11, 2026)