MCT DAILY BRIEF

ROSAL IS WEAKER, BUT SEAS AROUND BATANES REMAIN DANGEROUS

In its 5 a.m. bulletin on October 23, PAGASA placed Typhoon Rosal 275 kilometers east-northeast of Itbayat, Batanes, with maximum sustained winds of 155 kilometers per hour and gusts of up to 190 kph.

The storm was moving northwest at 15 kph. Signal No. 2 remained over Batanes and the northeastern portion of the Babuyan Islands.

PAGASA forecast Rosal to leave the Philippine Area of Responsibility early Saturday, October 24. That projected exit does not mean dangerous weather ends at the same time.

Seas could reach 12 meters along the northern and eastern seaboards of Batanes. The reduction in wind strength should not be read as an all-clear for coastal communities or people planning sea travel.

BSP RAISES ITS POLICY RATE TO 5.50 PERCENT

The Bangko Sentral ng Pilipinas raised its policy rate by 50 basis points, or half a percentage point, on October 22, bringing it to 5.50 percent. It was the fourth consecutive increase.

The overnight deposit and lending rates moved to 5 percent and 6 percent, respectively.

The peso closed Thursday at ₱63.52 to the US dollar, weaker than Wednesday's ₱63.361 close.

Higher policy rates can feed into borrowing costs. What happens to an existing loan depends on its terms, so borrowers should check when their interest rate can change. A weaker peso can also raise the peso cost of dollar-priced imports, although shop prices depend on other costs as well.

ALMIROL ANSWERS THE ALLEGATIONS BEHIND HIS SUSPENSION

DICT Undersecretary David Almirol Jr. has denied a conflict of interest involving roughly ₱1.55 billion in e-government contracts.

The Ombudsman ordered his six-month preventive suspension without pay while administrative complaints are investigated. The order cited at least eight contracts awarded to companies with financial links to Multisys, which Almirol founded.

In his October 22 response, Almirol said he had divested his interests on September 1, 2022, within 60 days of taking office. He said delays in corporate filings were outside his control.

He also said no DICT contract went directly to Multisys, that the questioned awards went through competitive bidding, and that he would cooperate with the investigation.

The suspension does not establish his guilt. The case concerns how public technology contracts were awarded and whether private business interests conflicted with official duties.

DBM EXPLAINS 2026 FUND RELEASES AFTER THE SUPREME COURT RULING

Budget Secretary Kim Robert de Leon told the Senate on October 22 that no releases had been charged against the 2026 unprogrammed appropriations under Special Provisions 1(A) and 1(B), which were addressed by the Supreme Court's ruling.

Unprogrammed appropriations are standby spending authority in the budget, subject to funding conditions. They are not the same as money already released.

De Leon said releases from this year's unprogrammed funds had so far covered foreign-assisted projects supported by loan proceeds. DBM said it was working with the Senate on clearer conditions for the proposed 2027 budget.

Solicitor General Darlene Berberabe also said the government would seek clarification and review of parts of the ruling. That announced plan does not reverse the Court's decision.

MMDA PROPOSES ₱3.4 BILLION FOR FLOOD CONTROL

MMDA presented a proposed ₱6.56 billion budget for 2027 at Thursday's Senate finance hearing. Nearly 52 percent, or ₱3.4 billion, would go to flood control and sewerage management.

The money would support drainage systems, pumping stations and related work across Metro Manila.

These amounts are still proposals. The hearing does not mean the money has been approved, contracts awarded or projects completed. Residents of flood-prone communities need to know which nearby waterways and drainage facilities are included, and when the work would be finished.