- The central bank of the Philippines (BSP) is reversing policy due to the economic impacts of the war in the Middle East, noting weak transmission in the APAC region.
- The Philippine government (DA) is working to ensure affordable rice supply amidst global pressures from the Middle East and local production challenges due to El Niño, while the BSNP monitors inflation.
A crisis in the Middle East caused a significant increase in global oil prices.
1 report, 1 independent
Updated Oct 1
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What happened
A crisis in the Middle East caused a significant increase in global oil prices.
Who's involved
What this event is mainly aboutKeep exploring
The entities involved
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Bangko Sentral ng Pilipinas
central bank of the Philippines
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Middle East
geopolitical region encompassing Egypt and most of Western Asia, including Iran
Related events
- Rising crude oil prices are attributed to ongoing tensions in the Middle East.
- Middle East conflict drove up global oil prices.
- Middle East escalation pushed oil prices.
- Middle East tensions are driving up global oil prices and inflation, prompting the BSP to manage the peso's foreign exchange market.
- Oil prices are tied to geopolitical tensions in the Middle East, specifically involving Shell.