1. BSP reduced Reserve Requirement Ratio (RRR) to 19% from 20%. It will be effective on March 2, 2018. It will gradually lessen its reliance on reserve requirements for managing liquidity in the financial system. This 1% will free around 90 billion pesos.
Notes: BSP said...it has other methods to control..what are they? more money in the market....will support growth...is it good for stock also? or only good for banks? how bout inflation? when they gonna raise interest rate? Some say...BSP may raise 0.75% this year...
2. US shale producers are ramping up output. Russia/Saudi agreed on the need to cooperate to prop up prices.
Notes: Major oil companies are reporting big earnings...PNX also reported earning surprise. How bout SHLPH and PCOR? I believe they will also report surprise...but why the price is not going up? coz of EXCISE Tax? How much it will affect to Philippines oil firm's margin? I don't think it will really hurt them in a short term...considering the oil product prices in other country. a lot of people bought cars recent years...and even slowed down...still more people buying...they will just display it in the house...RE and electric cars are not major threatens at least for now.
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MARKET ISSUES
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