Goed nieuws voor ons

[LMBen]

MANILA, Philippines - The country's economic growth is expected to decelerate to 5.5 percent this year as China's slowdown and falling commodity prices drag down the region's growth, Fitch Ratings said.

The projection is far below the government's 6.5 to 7.5 percent growth target this year, and also slower than the credit rater's forecast of a seven percent growth in 2013.

Economic growth, however, is seen to pick up to six percent in 2015, Fitch said but this level is still slower than the seven to eight percent target range set by the government for that year.

"Beyond the commencement of Fed (US Federal Reserve) tapering, which will lead to tighter global liquidity conditions, the domestic economic environment is becoming more challenging for emerging Asia," Fitch said.

"Some of the key factors that could begin to restrain growth prospects, particularly in the ASEAN (Association of Southeast Asian Nations) region, include maturing credit cycles, slower growth in China and falling commodity prices," the debt watcher continued.

Fitch explained that the slowing growth in China will likely hinder growth prospects for a number of economies in the region as trade activities dwindle down.

However, the credit rater pointed out countries engaged heavily in tourism services such as Thailand, Sri Lanka and Philippines, could benefit from China's rising middle-income class.

At the same time, Fitch noted that increasing household debt may restrain further growth in private consumption that provides a boost to growth.

"Questions over the sustainability of growth in emerging Asia have surfaced following a difficult 2013 that was highlighted by pressures related to Fed tapering," Fitch said.



Bron abs-cbn

[Amice]

Mja dat is dan nog even afwachten of het goed nieuws zal worden, want de prijzen kunnen hier ook omhoog schieten, dan kan wellicht de peso minder waard worden waardoor we misschien meer peso voor de euro krijgen maar per saldo schieten we er dan nog niks me op.

Ik heb althans voor 2014 geen erg hoge verwachtingen dienaangaande.
Integendeel want het kan nu wel even positief blijken te zijn, dat kan ook weer snel omslaan in het negatieve en dat is dan meestal voor langere duur.

Voorlopig wordt er m.i. nog veel te veel gemanipuleerd op de financiele markt en zo lang dat getolereerd/ door blijft gaan, zijn wij jan met de korte achternaam.

[Pinocchio]

Het gebeurt vlijwel onopgemerkt maar volgens Xe.com is de waarde van 1 Euro intussen 61.41377 pesos

[LMBen]

MANILA, Philippines - The Philippine peso is expected to continue to remain weak, according to think tank Global Source.

In a Philippine market report, Global Source noted the Bangko Sentral ng Pilipinas has a bias for weaker peso as an increase in demand for exports is projected this year.

"The hope is that the weaker peso would reverse some of the accumulated loss in competitiveness over the past 10-years versus trading partners, giving exports an extra boost just as demand in developed economies rises," the New York-based think tank said.

"We would not be surprised if it tests the P46/$ level in the weeks ahead," it added.

Global Source said it is "highly unlikely" the peso will go back to the P40 to $1 level.

"We think there is more than a even chance of the peso selling at around P43-P44/$ by yearend, particularly given what we think is a distinctive policy bias for a weaker peso," it said.

Global Source said the weaker peso will not affect the country's economic growth because of the BSP's robust foreign exchange reserve and payments position.

"Interest rates will remain low for a while, perhaps through midyear, which may mean continued currency weakness. Moreover, signals from the BSP are that expected increases in inflation will be manageable and thus, policy rats will remain on hold in the near term," it said, adding that it expects 50 basis points accumulative increases in key policy rates for the rest of 2014.

However, Global Source said the peso's path may be reversed when foreign funds start flowing for the reconstruction and infrastructure projects.

Bron abc cbn