October 19, 2017, 9:54 am
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1 Philippine Peso = 0.0717 UAE Dirham
1 Philippine Peso = 2.20871 Albanian Lek
1 Philippine Peso = 0.03475 Neth Antilles Guilder
1 Philippine Peso = 0.33813 Argentine Peso
1 Philippine Peso = 0.0248 Australian Dollar
1 Philippine Peso = 0.03475 Aruba Florin
1 Philippine Peso = 0.03905 Barbados Dollar
1 Philippine Peso = 1.57731 Bangladesh Taka
1 Philippine Peso = 0.03233 Bulgarian Lev
1 Philippine Peso = 0.00736 Bahraini Dinar
1 Philippine Peso = 33.79539 Burundi Franc
1 Philippine Peso = 0.01952 Bermuda Dollar
1 Philippine Peso = 0.02637 Brunei Dollar
1 Philippine Peso = 0.13393 Bolivian Boliviano
1 Philippine Peso = 0.0616 Brazilian Real
1 Philippine Peso = 0.01952 Bahamian Dollar
1 Philippine Peso = 1.2666 Bhutan Ngultrum
1 Philippine Peso = 0.19953 Botswana Pula
1 Philippine Peso = 390.86294 Belarus Ruble
1 Philippine Peso = 0.039 Belize Dollar
1 Philippine Peso = 0.02447 Canadian Dollar
1 Philippine Peso = 0.01905 Swiss Franc
1 Philippine Peso = 12.09684 Chilean Peso
1 Philippine Peso = 0.12863 Chinese Yuan
1 Philippine Peso = 57.20812 Colombian Peso
1 Philippine Peso = 11.07243 Costa Rica Colon
1 Philippine Peso = 0.01952 Cuban Peso
1 Philippine Peso = 1.82351 Cape Verde Escudo
1 Philippine Peso = 0.42558 Czech Koruna
1 Philippine Peso = 3.46544 Djibouti Franc
1 Philippine Peso = 0.12309 Danish Krone
1 Philippine Peso = 0.92112 Dominican Peso
1 Philippine Peso = 2.21712 Algerian Dinar
1 Philippine Peso = 0.25865 Estonian Kroon
1 Philippine Peso = 0.3441 Egyptian Pound
1 Philippine Peso = 0.52519 Ethiopian Birr
1 Philippine Peso = 0.01653 Euro
1 Philippine Peso = 0.0399 Fiji Dollar
1 Philippine Peso = 0.01467 Falkland Islands Pound
1 Philippine Peso = 0.01471 British Pound
1 Philippine Peso = 0.08578 Ghanaian Cedi
1 Philippine Peso = 0.91761 Gambian Dalasi
1 Philippine Peso = 173.50644 Guinea Franc
1 Philippine Peso = 0.14337 Guatemala Quetzal
1 Philippine Peso = 3.9752 Guyana Dollar
1 Philippine Peso = 0.15244 Hong Kong Dollar
1 Philippine Peso = 0.45638 Honduras Lempira
1 Philippine Peso = 0.12402 Croatian Kuna
1 Philippine Peso = 1.19621 Haiti Gourde
1 Philippine Peso = 5.08551 Hungarian Forint
1 Philippine Peso = 263.17844 Indonesian Rupiah
1 Philippine Peso = 0.0682 Israeli Shekel
1 Philippine Peso = 1.26328 Indian Rupee
1 Philippine Peso = 22.78407 Iraqi Dinar
1 Philippine Peso = 667.88363 Iran Rial
1 Philippine Peso = 2.04705 Iceland Krona
1 Philippine Peso = 2.48653 Jamaican Dollar
1 Philippine Peso = 0.01381 Jordanian Dinar
1 Philippine Peso = 2.1829 Japanese Yen
1 Philippine Peso = 2.01386 Kenyan Shilling
1 Philippine Peso = 1.33715 Kyrgyzstan Som
1 Philippine Peso = 78.73877 Cambodia Riel
1 Philippine Peso = 8.09352 Comoros Franc
1 Philippine Peso = 17.57126 North Korean Won
1 Philippine Peso = 21.9875 Korean Won
1 Philippine Peso = 0.00589 Kuwaiti Dinar
1 Philippine Peso = 0.01601 Cayman Islands Dollar
1 Philippine Peso = 6.51054 Kazakhstan Tenge
1 Philippine Peso = 161.47403 Lao Kip
1 Philippine Peso = 29.39672 Lebanese Pound
1 Philippine Peso = 2.99785 Sri Lanka Rupee
1 Philippine Peso = 2.29988 Liberian Dollar
1 Philippine Peso = 0.25908 Lesotho Loti
1 Philippine Peso = 0.05952 Lithuanian Lita
1 Philippine Peso = 0.01212 Latvian Lat
1 Philippine Peso = 0.02662 Libyan Dinar
1 Philippine Peso = 0.18372 Moroccan Dirham
1 Philippine Peso = 0.33809 Moldovan Leu
1 Philippine Peso = 1.01269 Macedonian Denar
1 Philippine Peso = 26.59117 Myanmar Kyat
1 Philippine Peso = 47.89145 Mongolian Tugrik
1 Philippine Peso = 0.157 Macau Pataca
1 Philippine Peso = 7.04803 Mauritania Ougulya
1 Philippine Peso = 0.65892 Mauritius Rupee
1 Philippine Peso = 0.3034 Maldives Rufiyaa
1 Philippine Peso = 13.98223 Malawi Kwacha
1 Philippine Peso = 0.37125 Mexican Peso
1 Philippine Peso = 0.0823 Malaysian Ringgit
1 Philippine Peso = 0.25884 Namibian Dollar
1 Philippine Peso = 6.89184 Nigerian Naira
1 Philippine Peso = 0.59176 Nicaragua Cordoba
1 Philippine Peso = 0.15391 Norwegian Krone
1 Philippine Peso = 2.0285 Nepalese Rupee
1 Philippine Peso = 0.02714 New Zealand Dollar
1 Philippine Peso = 0.00751 Omani Rial
1 Philippine Peso = 0.01952 Panama Balboa
1 Philippine Peso = 0.06338 Peruvian Nuevo Sol
1 Philippine Peso = 0.06228 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.05076 Pakistani Rupee
1 Philippine Peso = 0.07005 Polish Zloty
1 Philippine Peso = 109.88871 Paraguayan Guarani
1 Philippine Peso = 0.07106 Qatar Rial
1 Philippine Peso = 0.07576 Romanian New Leu
1 Philippine Peso = 1.11582 Russian Rouble
1 Philippine Peso = 16.21398 Rwanda Franc
1 Philippine Peso = 0.07321 Saudi Arabian Riyal
1 Philippine Peso = 0.15248 Solomon Islands Dollar
1 Philippine Peso = 0.26667 Seychelles Rupee
1 Philippine Peso = 0.13003 Sudanese Pound
1 Philippine Peso = 0.15841 Swedish Krona
1 Philippine Peso = 0.02638 Singapore Dollar
1 Philippine Peso = 0.01468 St Helena Pound
1 Philippine Peso = 0.43354 Slovak Koruna
1 Philippine Peso = 148.77001 Sierra Leone Leone
1 Philippine Peso = 10.91371 Somali Shilling
1 Philippine Peso = 405.15812 Sao Tome Dobra
1 Philippine Peso = 0.17083 El Salvador Colon
1 Philippine Peso = 10.05428 Syrian Pound
1 Philippine Peso = 0.25884 Swaziland Lilageni
1 Philippine Peso = 0.64526 Thai Baht
1 Philippine Peso = 0.04826 Tunisian Dinar
1 Philippine Peso = 0.04364 Tongan paʻanga
1 Philippine Peso = 0.07093 Turkish Lira
1 Philippine Peso = 0.13039 Trinidad Tobago Dollar
1 Philippine Peso = 0.58821 Taiwan Dollar
1 Philippine Peso = 43.69387 Tanzanian Shilling
1 Philippine Peso = 0.51738 Ukraine Hryvnia
1 Philippine Peso = 71.10504 Ugandan Shilling
1 Philippine Peso = 0.01952 United States Dollar
1 Philippine Peso = 0.57321 Uruguayan New Peso
1 Philippine Peso = 156.77469 Uzbekistan Sum
1 Philippine Peso = 0.19475 Venezuelan Bolivar
1 Philippine Peso = 443.49862 Vietnam Dong
1 Philippine Peso = 2.03026 Vanuatu Vatu
1 Philippine Peso = 0.0495 Samoa Tala
1 Philippine Peso = 10.83639 CFA Franc (BEAC)
1 Philippine Peso = 0.05271 East Caribbean Dollar
1 Philippine Peso = 10.75752 CFA Franc (BCEAO)
1 Philippine Peso = 1.96193 Pacific Franc
1 Philippine Peso = 4.87895 Yemen Riyal
1 Philippine Peso = 0.259 South African Rand
1 Philippine Peso = 101.31784 Zambian Kwacha
1 Philippine Peso = 7.0656 Zimbabwe dollar

Watch out for rising global inflation

LONDON - The global economy has weathered the new U.S. administration’s sweeping challenges to the status quo with surprising aplomb given serious threats made to world trade, but what is not so clear is how much longer inflation will remain stubbornly low.

Nearly a decade since the start of the financial crisis and an avalanche of emergency monetary stimulus that ensued, inflation is only just now close to the 2 percent target many of the world’s biggest central banks still keep.

But there have been stirring signals on inflation elsewhere in the world, suggesting a turning point may be closer.

The Reserve Bank of India just dropped its bias to ease policy, citing global inflation pressures as one reason for a sudden volte-face. Mexico’s central bank, grappling with a falling peso, hiked rates on Thursday to a near-eight year high.

Key releases on inflation for the United States, Britain and China are due next week, forecast at 2.4, 1.9 and 2.4 percent, respectively, according to Reuters polls.

The worry is with growth holding up and commodity prices giving inflation a nudge up now, the last thing needed with most major central bank rates still near zero is more fuel poured onto to an already-raging fire.

An expected announcement from the Trump administration on plans for sweeping tax cuts is likely only weeks away, and has again boosted already-lofty stock prices, despite widespread worries about the barriers to trade that may come later.

Federal Reserve Chair Janet Yellen is due to testify to Congress next week for the first time since Donald Trump moved into the White House. She doesn’t appear ready to signal a major step up in the Fed’s glacial pace of rate rises yet either.

Inflation in the economy is picking up: but so far not because spare capacity has been eaten up in product and labour markets, triggering price rises driven by demand outstripping shortages of supply.

Instead, the latest rise has to do with rising costs, particularly energy costs, leaving central bankers, notably European Central Bank President Mario Draghi, saying they will instead focus on the next round of inflation pressures.

The main impediment to higher inflation rests in one of the side-effects from the free flow of labor: a lack of wage pressure.

“What had appeared to be a promising trend of stronger wage growth broadening out to include more higher paying industries has reversed since late last year,” notes Morgan Stanley U.S. economist Robert Rosener.

“Wage pressures remain predominately in low-wage industries, limiting gains in overall aggregate wage growth.”
The U.S. unemployment rate is below 5 percent, close to where most economists say is the lowest it can go before shortages start to drive up the cost of labor.

Despite this latest setback in the official data, the general expectation is that wage inflation will soon take off, especially given that it is one of President Trump’s stated aims to hire American.

The talk of wage inflation has been less robust in the Britain, however.

Britain is facing an imported inflation challenge following Britons’ majority vote last June to leave the European Union that caused a 15 percent fall in sterling. That could send inflation to 3 percent or higher later this year.

The Bank of England just cut its estimate of the unemployment rate it thinks will generate inflation to 4.5 percent from 5.0 percent based on recent evidence that already-low unemployment isn’t boosting wages much.

Its latest agents survey of businesses shows very modest expectations for pay settlements in the coming year, only slightly above 2 percent.

Average UK weekly earnings excluding bonuses are forecast to rise 2.7 percent in the three months to December on a year ago, steady compared with the last official set of data.

It is clear that going forward, there is still plenty of uncertainty over what Britain’s future trading relationship will be with the EU and how long that will take.

But if the unemployment rate keeps falling, it should soon be time for a trend of rising wages to re-establish itself, so long as basic laws of economics still apply.

“There seems to be a real inconsistency between the way the U.S. is being analysed and the way the UK is being analysed,” said Charles Goodhart, former member of the BoE’s Monetary Policy Committee, at a recent conference hosted by Fathom Consulting and Thomson Reuters.

“That means that there must be, to my mind, at least a 50 percent possibility that wages will go up in line with inflation... in which case interest rates in the UK will go up.

So it all depends on wages. Watch wages like a hawk.” – Reuters 
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