Rising Inflation, Oil Prices to Affect Local Interest Rates
Byline: FIL C. SIONIL
Domestic interest rates could take an asymmetrical glide next week, despite the stay in the Bangko Sentral ng Pilipinas (BSP) policy rates, due to the spiraling inflation and accelerating domestic pump prices of oil and other petroleum products that have spawned call for increase in wages by both the public and private workforce.
Market sources interviewed by Business Bulletin said "pressures" for local interest rates to go up have mounted due to recent market developments onshore and offshore, notably the 25 basis points hike in the US state-fund rate but teeming liquidity in the financial system could curb its uphill climb.
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Publication information: Article title: Rising Inflation, Oil Prices to Affect Local Interest Rates. Contributors: Not available. Newspaper title: Manila Bulletin. Publication date: August 15, 2004. Page number: Not available. © 2009 Manila Bulletin Publishing Corp. COPYRIGHT 2004 Gale Group.
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