The expansion of the Philippines’ total debt from foreign creditors continued outpacing the growth of its total foreign assets during the third quarter of 2024, according to the central bank. Data on the country’s net international investment position (IIP) revealed that the net liability...
Banks’ outstanding foreign currency deposit unit (FCDU) loans rose by 0.7 percent as of end-September, an increase of $114 million from the second-quarter level of $15.63 billion as disbursements exceeded principal repayments, the central bank said. According to the Bangko Sentral ng...
The country’s residential property prices posted a 2.3 percent year-on-year drop in the third quarter of 2024, marking the first decline since the pandemic began, the Bangko Sentral ng Pilipinas (BSP) reported. Data from the central bank revealed that residential property prices also fell by 1.6...
After pulling out of the Philippines in October, foreign investors came back in November, putting money into the country's stock market and government bonds, data from the Bangko Sentral ng Pilipinas (BSP) showed. Foreign portfolio investments registered with the central bank reached $96.59 million...
The Philippines saw its overall financial position in relation to the rest of the world improve in the second quarter of the year, the Bangko Sentral ng Pilipinas (BSP) reported. The country’s net external liability position improved from April to June 2024, decreasing by 3.6 percent to P2.9...
Despite potential price increases in some sectors, the Bangko Sentral ng Pilipinas (BSP) anticipates that the rate of increase in consumer prices will remain controlled and within the desired range this month. In a statement on Friday, Dec. 27, the central bank projected that December 2024...
The Bangko Sentral ng Pilipinas (BSP) is touting the success of its polymer banknotes, highlighting their significantly lower counterfeit rates in addition to environmental and practical benefits. In a statement on Thursday, Dec. 26, the BSP said that one of the key findings following the launch of...
The Philippine central bank’s third consecutive interest rate cut this year has prompted private sector economists to anticipate continued easing, citing sluggish economic growth and subdued inflation. On Dec. 19, the Monetary Board (MB) reduced the key borrowing cost by 25 basis points (bps),...
Senate Minority Leader Aquilino "Koko" Pimentel III is set to conduct a Senate inquiry in order to ask the Bangko Sentral ng Pilipinas (BSP) what caused the removal of national heroes from the design of new polymer banknotes. In a radio interview on DWIZ, Pimentel said that for the longest time,...
President Ferdinand R. Marcos, Jr. (left) and Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona, Jr. applaud the First Philippine Polymer Banknote Series during its launch in Malacañang on Dec. 19, 2024. The familiar crinkle of a crisp paper bill, the faded ink from countless...
The Bangko Sentral ng Pilipinas (BSP) has introduced the First Philippine Polymer (FPP) Banknote Series featuring enhanced security and durability, which will be available in circulation starting the first quarter of 2025. On Thursday, Dec. 19, President Ferdinand R. Marcos Jr. led the unveiling of...
Monetary Board (MB) member and Department of Finance (DOF) Secretary Ralph G. Recto aligned with market consensus, expecting that the central bank will likely reduce its key borrowing cost by 25 basis points during its final policy meeting on Thursday, Dec. 19. "I agree with the market consensus of...
