{"id":242537,"date":"2020-01-17T22:30:45","date_gmt":"2020-01-18T03:30:45","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=242537"},"modified":"2020-01-17T22:31:04","modified_gmt":"2020-01-18T03:31:04","slug":"slight-impact-on-inflation-gdp-seen-due-to-taal-eruption","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2020\/01\/17\/slight-impact-on-inflation-gdp-seen-due-to-taal-eruption\/","title":{"rendered":"Slight impact on inflation, GDP seen due to Taal eruption"},"content":{"rendered":"
\"\"<\/a>
FILE: Ongoing phreatic explosion at the Main Crater of Taal Volcano. Photos taken from installed IP camera monitoring the activity of Taal Volcano on January 12, 2020. (Photo<\/a>: @phivolcs_dost\/Twitter<\/a>)<\/figcaption><\/figure>\n

MANILA<\/strong>\u00a0— Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said he had expected that the eruption of the Taal Volcano will have a limited impact on the domestic economy\u2019s growth this year.<\/p>\n

In a briefing Friday, the central bank chief said while the National Capital Region (NCR); Cavite, Laguna, Batangas, Rizal and Quezon (Calabarzon); and Central Luzon account for a big chunk of the country\u2019s expansion, only Batangas is most affected.<\/p>\n

\u201cI think NEDA (National Economic and Development Authority) has already made an assessment and so with the absence of any assessment on our part, we\u2019ll go along with NEDA and it\u2019s not going to affect too much both the inflation and the growth path,\u201d he said.
\nTaal Volcano erupted on January 12 and generated ashfall that reached as far as some parts of Laguna, Cavite, and Metro Manila.<\/p>\n

Alert Level 4 is still raised over Taal Volcano but Diokno said the government is planning to downgrade this to Alert Level 3 after the volcano quieted for some days now.<\/p>\n

The central bank chief also noted that the impact of the eruption on agriculture has been limited since the whole economy\u2019s size is about PHP18 trillion.<\/p>\n

\u201cWhen I was asked about this, three days ago, I said it\u2019s too premature for their speculation. So let\u2019s not give some numbers because we don\u2019t know. The volcano eruption is so unpredictable. Maybe tomorrow, it will normalize already or it could be for a long period. So we don\u2019t know,\u201d he added.<\/p>\n

In terms of inflation rate, monetary officials have forecast that the rate of price increases would normalize this year from the low rates last year.<\/p>\n

Based on the assessment of the policy-making Monetary Board last December, average inflation is seen to be about 2.9 percent this year, which will be at the lower half of the government\u2019s 2 percent to 4 percent target band.\u00a0<\/strong><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

MANILA\u00a0— Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said he had expected that the eruption of the Taal Volcano …<\/p>\n","protected":false},"author":44,"featured_media":242013,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[],"class_list":["post-242537","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","mauthors-joann-villanueva","mauthors-philippine-news-agency"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/242537","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=242537"}],"version-history":[{"count":2,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/242537\/revisions"}],"predecessor-version":[{"id":242539,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/242537\/revisions\/242539"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/242013"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=242537"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=242537"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=242537"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}