Mactan, Cebu — Amid Trump's comeback, the Bangko Sentral ng Pilipinas (BSP) is considering a 25 basis points (bps) reduction in borrowing costs, either in December or at the next Monetary Board (MB) meeting, as the central bank continues its easing cycle, according to an official. During the...
JPMorgan Chase boss Jamie Dimon met with local business leaders and Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona Jr. on Wednesday, Sept. 25. The roundtable discussion featured prominent business leaders, including SM Investments Corp. Chairman Amando M. Tetangco Jr., Ayala Corporation...
Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona, Jr. has been awarded an “A-” rating in Global Finance magazine’s 2024 Central Banker Report Cards, marking him as one of the top central bank governors in world. In a statement on Monday, Aug. 26, the BSP announced that...
German financial services giant Deutsche Bank said that investment growth in the Philippines will likely remain constrained in the near term despite the upcoming easing of the central bank’s restrictive policies. In its Asia Macro Insights report published on Monday, Aug. 26, Deutsche Bank...
Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona Jr. said Saturday, July 20, that the passage of Republic Act No. 12010 or the Anti-Financial Account Scamming Act (AFASA) will give the central bank more teeth in protecting financial consumers. AFASA is a law that will curb and combat...
The Bangko Sentral ng Pilipinas (BSP) has urged the public to be more vigilant against scams involving the use of artificial intelligence (AI) to create or manipulate fake videos and audio. In a statement on Friday, July 12, the BSP said that these AI-manipulated contents are being used to...
Seamless transition engenders stability – and this has been the hallmark of leadership at the Bangko Sentral ng Pilipinas (BSP) since its inception in 1993 by virtue of Republic Act 7653 or the New Central Bank Act of 1993. The law follows the mandate of the Philippine Constitution of 1987 on the...
The Marcos administration has no plan to reduce government spending to temper the nation’s ballooning debt load, the incoming chief of the Department of Finance (DOF) said on Monday, June 6. Bangko Sentral ng Pilipinas Governor Benjamin E. Diokno, who is President-elect Ferdinand R. Marcos...
The Bangko Sentral ng Pilipinas’ recent decision to maintain the two percent cap or 24 percent per year ceiling on credit card interest rates and charges is beneficial to cardholders who are still coping with the harsh economic impact of the past two years’ battle with the coronavirus pandemic....
The deceleration in price increases last January was a welcome development, but the Department of Finance (DOF) warned that the economy should still keep a close watch on oil price movements. In a research note, Finance Chief Economist Gil S. Beltran said on Thursday, Feb. 17, that headline...
The research arm of credit rater Fitch Group has maintained its bearish stance on the Philippine peso, as it expects the local currency to even weaken as accommodative policy stances and a worsening current account weigh on the local currency. In a research note on Friday, Jan. 14, Fitch Solutions...
The national government will repay the full amount of its cash advances to the Bangko Sentral ng Pilipinas (BSP) ahead of the January maturity date, the Department of Finance (DOF) said. In a letter addressed to BSP Governor Benjamin E. Diokno, Finance Secretary Carlos G. Dominguez III said that...
