By Rusty Ferguson on October 6, 2008
Philippine Inflation Slows
According to Bloomberg.com The Central Bank of the Philippines is not expected to increase interest rates in the Philippines. The expected economic downturn in the US will likely lower Philippine exports. Falling commodity prices should reduce the inflationary pressures on the Philippines. Growth is expected to fall from over 7% last year to just under 4% for 2008. Additional interest rate increases would likely cut further into growth of the Philippine economy.
Spending power Increase for Expats Living in the Philippines
Hopefully for the expat living in the Philippines, the central bank here will cut and not just hold interest rates steady. This lowered inflation should help increase the spending power of the Peso which makes our dollars even more valuable. While it will have a lowering effect on the price paid for each dollar the lower rate of inflation makes the peso go further after we convert it into peso.
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Posted in Expat Finances | Tagged Expat Finances, Inflation
I'm an American expat having the time of my life living in the Philippines.
I'm becoming a bit of a jack of all trades. I grew up in Jackson, Ms where I graduated with a bachelors degree and a major in Accounting. Though there is no official designation of such, I have a strong educational background in finance as well.
I worked as a revenue agent and computer analyst for the IRS for almost 20 years. I'm retired from that and my pension makes it possible to travel as my income goes with me. I am also a webmaster and it seems, I'm becoming a writer, kicking and screaming all the way. When it comes to proper English, I'm not so good. When it comes to putting emotion and ideas on paper, I've been told for years that I am exceptional at it.
I also love photography and playing with computers which fits in well with my new lifestyle. Like I said, I'm having the time of my life in the Philippines. I look forward to exploring all of the country as well as some nearby countries.
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