OVER THE WEEKEND

Economists expect one more rate hike this year

ECONOMISTS expect one more rate hike from the Bangko Sentral ng Pilipinas (BSP) this year amid signs that inflation will remain on the rise in the coming months, following a tightening move introduced on Thursday. Analyses issued by global banks following the central bank’s rate hike signalled that they still see at least one more tightening move within 2018. >>

Supreme Court ousts Sereno in landmark ruling

THE SUPREME COURT (SC) en banc, in a landmark ruling made on Friday, voted 8-6 favoring Solicitor General Jose C. Calida’s quo warranto petition, voiding the appointment of Chief Justice Maria Lourdes P.A. Sereno. Court spokesperson Atty. Theodore O. Te issued this announcement, citing the dispositive portion of the decision penned by Associate Justice Noel G. Tijam. >>

Q1 tax effort hits record high

TAXES collected in the first quarter took a larger share relative to the economy to log a fresh record high, the Department of Finance (DoF) said on Friday. “Tax effort also rose by 1.03 percentage point, from 13.44% to 14.47%, the highest first quarter tax effort ever achieved,” the DoF said in an economic bulletin. >>

BSP forms new unit as part of reorganization

THE Bangko Sentral ng Pilipinas (BSP) will introduce a new unit in the bank as part of its “phased” reorganization which also involves changes in the mandates and names of three existing sectors. The adjustments are seen to enhance the BSP’s “capability to fulfill its mandate in an ever-shifting economic landscape.” >>