Datasets:
gtfintechlab
/
central_bank_of_the_philippines

Dataset card Data Studio Files Community
1
sentences
stringlengths
25
668
stance_label
stringclasses
4 values
time_label
stringclasses
2 values
certain_label
stringclasses
2 values
year
int64
2k
2.02k
__index_level_0__
int64
1
999
likewise, merchandise imports declined more steeply by 37.4 percent year-onyear in april from a contraction of 36.2 percent in the previous month.
dovish
not forward looking
certain
2,009
157
- weakened corporate sector performance in the first half of 2020 reflected in part the slowdown in bank lending.
dovish
not forward looking
certain
2,020
269
the mb considered the following developments: - year-on-year headline inflation increased to 4.4 percent in march from items, particularly light and transportation and communication services, accounted for the rise of inflation in march.
hawkish
not forward looking
certain
2,010
336
sales rose by 9.7 percent in 2007, reversing the 7.3 percent decline recorded in 2006. uptrend since early 2007 as it increased slightly in october to 80.5 percent from a revised rate of 80.4 percent in september, based on the nso’s monthly integrated survey of selected industries in october.
neutral
not forward looking
certain
2,008
586
at the same time, the members of the monetary board shared the view that the prospects for sustained recovery in domestic economic activity were being clouded by uncertainties in global economic conditions along with signs of weakness in overall domestic demand, such as the contraction in manufacturing activity and car sales.
dovish
forward looking
uncertain
2,002
908
- looking ahead, the monetary board emphasized that the bsp will continue to prioritize providing policy support for the economy while keeping an eye on the potential risks to future inflation.
dovish
forward looking
certain
2,021
14
the monetary board considered the recent macroeconomic and financial developments discussed below in assessing the monetary policy stance: - inflation increased slightly in february 2023, implying the strong persistence of inflation.
hawkish
not forward looking
certain
2,023
582
aggregate demand, to date, has been driven largely by consumer spending.
neutral
not forward looking
certain
2,006
293
fiscal authorities attributed this largely to the frontloading of expenditures and payments for accrued accounts payable, along with a shortfall in revenue collections.
neutral
not forward looking
uncertain
2,002
34
the sustained expansion in domestic liquidity continued to be driven by the increase in the net foreign asset (nfa) position of depository corporations (dcs), following the steady rise in overseas filipinos’ (of) remittances, export earnings, as well as foreign direct and portfolio investment inflows.
neutral
not forward looking
certain
2,007
706
the outlook for the us economy remains upbeat, while economic activity in the euro area and japan continues to gain traction.
hawkish
forward looking
certain
2,014
326
the expansion in liquidity continued to be fueled by the rise in net foreign assets (nfa) at 21.7 percent in july from 17.6 in june.
hawkish
not forward looking
certain
2,009
886
softening of the yields was due mainly to the improved fiscal performance in april 2003 as well as the presence of ample liquidity in treasury, the average yield on the benchmark 91-day t-bill fell to 6.302 percent, 54 basis points lower than the 6.842 percent yield recorded in the previous auction.
dovish
not forward looking
certain
2,003
682
this has resulted in an uptick in the rp 91-day t-bill rates.
hawkish
not forward looking
certain
2,002
931
the monetary board also continues to support fiscal efforts to sustain growth through more rapid programmed spending, as well as non-monetary interventions to address persistent supply-side pressures on prices.
dovish
forward looking
certain
2,023
181
- at the same time, the risks to the inflation outlook lean strongly toward the upside for 2022 and 2023 but are seen to remain broadly balanced for 2024.
hawkish
forward looking
certain
2,022
80
- core inflation, which excludes certain food and energy items to measure generalized price pressures, was marginally higher in april at power rates.
hawkish
not forward looking
certain
2,010
497
the highlights of the discussions during the 23 march 2017 meeting were approved by the monetary board during the mb considered the following developments in deciding on the monetary policy stance: - inflation in february 2017 increased to 3.3 percent from 2.7 percent in january 2017, which is the highest outturn since november 2014.
hawkish
not forward looking
certain
2,017
63
commercial bank lending grew by 3.8 percent in august, a slight improvement from the 3.7 percent annual rise in the previous month.
hawkish
not forward looking
certain
2,003
79
the differential between the bsp policy rate and the us federal funds rate narrowed in march 2009, following the bsp’s 25-basis-point cut in its policy rate.
dovish
not forward looking
certain
2,009
406
for 2011, the mean inflation forecast was also slightly lower at 4.6 percent from 4.7 percent.
dovish
not forward looking
certain
2,010
786
meanwhile, inflation is projected to revert close to the lower end of the target range by january 2024 due mainly to negative base effects and the likely deceleration in global oil and non-oil prices.
dovish
forward looking
certain
2,023
311
- weather forecast models (as of september 2017) predicted an increasing chance of a la niña phenomenon in q4 2017.
neutral
forward looking
certain
2,017
986
on a geographical basis, inflation also rose in both the national capital region (ncr) and areas outside ncr.
hawkish
not forward looking
certain
2,019
821
- the food and agriculture organization (fao) food price index was lower in may as prices of almost all commodities, particularly cereals, dairy, and meat products, fell year-on-year amid ample supplies.
dovish
not forward looking
certain
2,015
33
at the same time, the impact of recent natural calamities could pose strong headwinds to domestic economy recovery in the coming months.
dovish
forward looking
certain
2,020
296
meanwhile, early disbursement by the department of budget and management (dbm) has raised government expenditures in the first two months by 12 percent year-onyear.
hawkish
not forward looking
certain
2,012
62
- meanwhile, overall manufacturing conditions in the asean region remained steady, based on the latest data on the nikkei asean manufacturing pmi in april 2021.
neutral
not forward looking
certain
2,021
211
market expectations indicated that world oil prices would continue to track the $22-$28 per barrel target price band of opec for the year, given the production limits set by the opec for its member countries and softer world oil demand due to concerns regarding the robustness of the us economic recovery.
neutral
forward looking
certain
2,002
339
- given these considerations, the monetary board believes that prevailing monetary policy settings are appropriately calibrated to the outlook for inflation and domestic economic activity.
neutral
not forward looking
certain
2,015
542
furthermore, with the increasingly important role of emerging and developing economies in global commodity demand, the expected strong recovery of private demand in asia could support global commodity prices going forward.
dovish
forward looking
certain
2,010
56
however, elevated global commodity prices, heightened geopolitical tensions, and of macroeconomic and financial information available at the time of the policy meeting.
hawkish
not forward looking
certain
2,022
396
inflation for food slowed down in november, driven by slower price increases of major food items such as, meat, fish, and vegetables.
dovish
not forward looking
certain
2,021
768
the nfa council set to review the country’s import requirement this q1 2014.
neutral
forward looking
certain
2,014
628
[2] at the same time, the committee also submitted its monetary policy recommendations to the monetary board.
irrelevant
forward looking
certain
2,003
764
although various parts of the philippines are expected to have below normal rainfall in the last quarter of regions), much of the available evidence confirmed that the el niño weather phenomenon would be much weaker than the 1997-1998 el niño episode.
dovish
forward looking
uncertain
2,002
545
results of the bsp’s survey of private sector economists for november 2017 showed that mean inflation forecasts for 2017 and 2019 were steady at 3.3 and 3.4 percent, respectively.
neutral
forward looking
certain
2,017
340
real lending rates remained negative even with the continued decline in inflation.
dovish
not forward looking
certain
2,008
742
corporate bond issuances also increased to p119 billion, higher by 20 percent compared to the level a year ago.
neutral
not forward looking
certain
2,011
30
business confidence for the current quarter weakened in q3 2023 but was more upbeat for the next quarter and the next 12 months.
neutral
not forward looking
certain
2,023
657
meanwhile, government measures to address the supply constraints, namely the proposed reduction of tariffs on meat and rice imports, provide the main downside risks to inflation.
dovish
forward looking
uncertain
2,021
241
the mb also reiterated its readiness to employ macroprudential measures as necessary to pre-emptively address any potential misalignment in asset prices.
neutral
forward looking
certain
2,013
324
based on estimates of the real effective exchange rate (reer) in may 2002, the country’s external competitiveness has weakened relative to major trading partners.
neutral
not forward looking
certain
2,002
725
declining interest differentials may encourage investors to buy more dollar-denominated assets.
dovish
forward looking
certain
2,005
449
an expected 10.8 percent year-on-year growth in the first quarter followed by an 8.7 percent growth in the second quarter.
neutral
forward looking
certain
2,004
407
developments in agriculture - domestic retail rice prices remained stable, owing to ample supply of the grain, and moved closer to international prices as envisioned with the enactment of r.a. no.
neutral
not forward looking
certain
2,021
53
of 11.4 percent year-on-year in september compared to 11.9 percent in august.
neutral
not forward looking
certain
2,007
200
- meanwhile, debt spreads narrowed in april as the outcome of the fomc meeting on federal reserve while rop prices were also supported by general buying interest from both local and foreign players who remained bullish on their outlook for the philippines.
dovish
not forward looking
certain
2,015
97
- the board recognized that monetary policy is an important policy lever in supporting demand to minimize any further corrosive feedback stemming from weakening economic and financial conditions.
dovish
forward looking
certain
2,009
150
the cumulative growth rate for january-july was 6.3 percent, considerably lower than the previous year’s 17.6 percent.
dovish
not forward looking
certain
2,007
194
the next meeting of the monetary board on the monetary policy the monetary board considered the developments listed below in deciding appropriate the monetary policy stance: - headline inflation was steady at 4.5 percent year-on-year in april compared to the previous month.
neutral
not forward looking
certain
2,021
747
number of car sold registered a 4 percent year-on-year decline in june 2003 following a steep 40 percent decrease in the previous month.
dovish
not forward looking
certain
2,003
310
c. inflation outlook - although the forecast inflation path for 2012-2013 is slightly higher compared to the forecast path in the previous round, the latest baseline forecasts indicate that inflation could settle within the government-announced target range of 3-5 percent for 20122013.
neutral
forward looking
uncertain
2,012
7
during its meeting held on 3 october 2002.
irrelevant
not forward looking
certain
2,002
805
there have been further signs that the pace of growth had stabilized in china while the us economy had continued to grow at a moderate pace, with the uncertainties posed by the ‘fiscal cliff’ somewhat reduced.
neutral
not forward looking
certain
2,013
390
this marked the highest year-on-year growth registered since november 2001.
hawkish
not forward looking
certain
2,002
245
accelerated by 3.9 percent year-on-year in december 2003, following an increase of 3.6 percent in november 2003.
neutral
not forward looking
certain
2,004
18
moreover, the number of cpi items with inflation rates below the threshold dropped in may relative to the previous month.
hawkish
not forward looking
certain
2,016
341
- the mb also noted that prospects for global economic growth have remained subdued since the previous meeting.
dovish
forward looking
certain
2,016
286
this, however, reflected an improvement from the 2.9 percent year-on-year contraction in the previous month.
neutral
not forward looking
certain
2,002
461
results of the consensus economics survey for march 2017 showed higher mean inflation forecasts for 2017 at 3.2 percent (from 3.1 percent in the previous month) while mean inflation forecast for 2018 was steady at 3.3 percent.
hawkish
forward looking
certain
2,017
656
meanwhile, the volume of production index (vopi) declined by 5.0 percent in september, a reversal from the 5.0 percent expansion in august.
dovish
not forward looking
certain
2,005
363
on a year-to-date (ytd) basis, however, the official measure of core inflation, which excludes some food and energy items, remained higher than headline inflation for the sixth consecutive month in june but lower than the midpoint of the target of 4 percent.
neutral
not forward looking
certain
2,012
940
- the food and agriculture organization (fao) food price index was lower in january as prices of almost all commodities, particularly cereals and oil fell year-on-year amid ample supplies.
dovish
not forward looking
certain
2,015
649
for provincial buses, there will be an increase of p0.50 in the minimum fare for regular buses and an additional of p0.10 for every succeeding kilometer while air-conditioned buses were allowed to charge p0.25 more for every kilometer.
hawkish
not forward looking
certain
2,008
15
oil price developments - global oil prices have been volatile recently though dubai crude oil prices have been generally declining in the first half of september 2022 as concerns over weaker demand outlook offset worries over supply tightness.
dovish
not forward looking
certain
2,022
342
this differential was about the same as the average differential in 2001 of about 5.7 percent and is higher than the differential that prevailed for the most part of 2000, which averaged at about 4.7 percent.
neutral
not forward looking
certain
2,002
798
- equally important, the possibility of a sustained deviation of the forecast from the target over the policy horizon poses a considerable risk to inflation expectations, in that the public may begin to expect inflation to remain persistently well above announced government targets.
hawkish
forward looking
uncertain
2,005
873
- the higher inflation in june was attributed largely to the increase in non-food inflation, particularly education, transport, and electricity, gas, and other fuels.
hawkish
not forward looking
certain
2,013
123
however, domestic demand momentum remains relatively strong.
neutral
not forward looking
certain
2,010
906
the business cycle analysis by the bsp indicated that the economy has been growing below its long-term growth trend.
dovish
not forward looking
certain
2,012
722
even as overall activity continues to adjust to tighter financial conditions, alternative demand indicators continued to show that domestic growth prospects over the medium term remain largely intact.
neutral
forward looking
certain
2,024
110
moreover, the sustained inflows of foreign exchange from overseas filipino remittances, bpo and tourism receipts, foreign portfolio and direct investments, as well as the ample level of the country’s gross international reserves provided stability to the peso.
dovish
not forward looking
certain
2,015
31
meanwhile, capital-raising activity in the pse was lower in january pse reached p5.7 billion for the past two months of 2008, p5.1 billion lower than the level in the same period in 2007.
dovish
not forward looking
certain
2,008
664
on 16 september 2022, the land transportation franchising and regulatory board (ltfrb) decided to collectively raise transport fares across several public transport vehicles.
hawkish
not forward looking
certain
2,022
720
growth in the second quarter was supported by sustained growth in household consumption and capital formation, particularly durable equipment and construction.
neutral
not forward looking
certain
2,017
521
volume of production index (vopi) rose by 4.4 percent year-on-year in june after falling by a revised 1.5 percent in the previous month.
neutral
not forward looking
certain
2,003
175
improvements in business and consumer outlook for the fourth quarter of 2005 and for the first quarter of 2006. unemployed, which include all persons who are 15 years old and over as of their last birthday and are reported as: (1) without work and currently available for work and seeking work; or (2) without work and currently available for work but not seeking work for the following reasons: (a) tired/believed no work available; (b) awaiting results of previous job application; (c) temporary illness/disability; (d) bad weather; and (e) waiting for rehire/job recall.
dovish
forward looking
certain
2,005
392
output expansion was maintained in the us, euro zone, and emerging markets in q1 2011.
neutral
not forward looking
certain
2,011
817
in nominal terms, the peso appreciated by 80 centavos or 1.5 percent against the us dollar in april 2002 relative to its average level in december 2001.
neutral
not forward looking
certain
2,002
953
the national grid corporation of the philippines noted that mindanao, which depends on hydro power for more than 50 percent of its electricity requirement, sustained power outages due to the supply deficit.
dovish
not forward looking
certain
2,010
328
meanwhile, july pmi survey data provided evidence that a recovery is underway in japan’s manufacturing economy.
dovish
not forward looking
certain
2,009
126
however, the t-bill rates for the 182-day and 364day tenors declined on ample liquidity and improving fiscal outlook.
dovish
not forward looking
certain
2,006
4
the peso settled at an average of p52.76/us$1 during the month, a 3.4 percent nominal appreciation from its average level in march.
neutral
not forward looking
certain
2,003
889
meanwhile, year-to-date sales rose by comparable period last year.
neutral
not forward looking
certain
2,007
989
supply-chain disruptions could also contribute to inflationary pressures, and thus warrant closer monitoring to enable timely intervention in order to arrest potential second-round effects.
hawkish
forward looking
uncertain
2,022
726
the mb considered the following developments in deciding on the monetary policy stance: - year-on-year headline inflation eased in august to 2.4 percent from 2.7 percent in july on the back of lower food prices.
dovish
not forward looking
certain
2,020
414
percent in february 2005.
neutral
not forward looking
certain
2,005
965
positive investor sentiment has also continued to strengthen the peso exchange rate, thus providing continued stability to domestic prices of imports.
dovish
not forward looking
certain
2,006
661
in addition, the pace of global economic recovery led by the us has slowed down due to the sharp falls in the equities market and the spate of revelations of corporate reporting and governance irregularities, which have dented consumer and business sentiment.
dovish
not forward looking
certain
2,002
9
similarly, steady improvements in japanese exports and share prices as well as the slowdown in deflation provided encouraging signs for the economy’s gradual recovery.
hawkish
not forward looking
certain
2,003
197
based on the revised data from the us department of commerce, us gdp grew by 1.4 percent year-on-year in real terms during the fourth quarter of 2002.
neutral
not forward looking
certain
2,003
435
inflation in developed as well as emerging market economies in recent months.
hawkish
not forward looking
certain
2,008
553
this brought the year-to-date net decrease in the price of diesel to p0.68/liter.
dovish
not forward looking
certain
2,009
887
percent in april 2004 as in march, slightly higher than the 77.0 percent registered for the same month a year ago.
neutral
not forward looking
certain
2,004
160
as a result, demand-side factors driving global commodity prices have abated.
dovish
not forward looking
certain
2,011
637
inflation is projected to accelerate above the high end of the target range from q1 to q3 2021 due to the transitory impact of supply-side price pressures.
hawkish
forward looking
uncertain
2,021
950
the increase in april inflation was due mainly to higher prices of selected food items, gasoline and other oil products, selected construction materials and the adjustment in transport fares.
hawkish
not forward looking
certain
2,004
799
total merchandise imports for 2004 posted a 7.5 percent increase from 2003. previous month.
hawkish
not forward looking
certain
2,005
88
nonetheless, the full operationalization of the fist act is expected to address the rise in npls.
hawkish
not forward looking
certain
2,021
487