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15
Oct
2019
In its recent Asia Pacific Sovereign Credit Overview for the third quarter of the year, Fitch Ratings said the slowing growth momentum, along with the Bangko Sentral ng Pilipinas’s (BSP) 175 basis points cumulative rate cut in 2018 have lowered overheating risks. Fitch noted that among the indicators of dissipating overheating risks is inflation, which continued to slow down for the first eight months of 2019 to an average of around 3.1 percent compared with the 4.7 percent during the same period last year. The slower growth for the Philippines will also not be the new normal for the country, as the credit watcher said the economy will recover, albeit modestly in the second half of the year.
Read more:
https://businessmirror.com.ph/2019/09/11/no-more-overheating-risks-for-phl-fitch/