.jpg)
Overseas news
Top officials from the US and China began another round of trade talks on Monday. An extension to their 90-day trade truce and tariff negotiations are on the table.
Together, the US and China make up a huge share of the global economy and so their relations and economic conditions are of concern to investors around the world.
US trading partners have been working to secure a trade deal with the country to avoid steep tariffs that are set to take effect on August 1.
Local developments
President Ferdinand Marcos Jr. delivered his State of the Nation Address (SONA) on Monday. He pushed for lower rice prices, increased investments in agriculture, and more infrastructure projects, among other things.
Additionally, there’s still room for 2 more policy rate cuts before the year ends, according to Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona Jr.
Lower interest rates make it less costly to borrow money, which can help boost economic growth and activity.
Meanwhile, new motor vehicle sales increased by 3.6% year-on-year in June to reach 40,483 units. This was due to a surge in commercial vehicle sales.
Vehicle sales figures can hint at an economy’s health. When things are good, such sales tend to pick up as consumers and businesses are more willing to spend, and the opposite when the situation isn't good.
In Metro Manila, the retail price growth of general goods remained flat in June, reaching 0.8% like it did in May.
This was according to preliminary data for the general retail price index (GRPI) in the National Capital Region (NCR). The GRPI tracks prices at which retailers sell goods to consumers.
Trade talks involving the US may have a significant effect over time, but it may be too soon to tell how things will unfold. You may want to remain cautious with your investing moves while waiting for developments.
