Germany-based Deutsche Bank said a quarter-point rate cut on Thursday would help support Philippine economic activity, following the Bangko Sentral ng Pilipinas’ (BSP) revised forecast that the negative output gap will persist until 2027. “We see the BSP lowering its policy rate by 25 bps...
Housing construction, which sharply slowed in the second quarter and pulled gross domestic product (GDP) growth toward the lower end of the government’s target, will likely recover only if the Bangko Sentral ng Pilipinas (BSP) delivers a jumbo rate cut on Thursday. While the University of Asia...
In a shift from its recent cautious stance, British banking giant HSBC now believes the Bangko Sentral ng Pilipinas (BSP) has the room to quicken and deepen its monetary easing cycle, driven by continued positive developments in the inflation outlook. According to HSBC ASEAN Economist Aris...
“As a policy, we don’t touch online gambling. It’s a prohibited category for us!” This was the clear-cut response from my former colleague in the banking and finance beat, Jay Tirona, now the chief executive officer of NTT DATA Payment Services Philippines. He said this at the launch of...
High borrowing costs and fear of fraud emerged as the top concerns barring Filipinos from credit adoption this year, even as sentiment around credit remained stable, according to the latest survey. “External barriers, led by interest rates and fear of fraud, are the top concerns hindering credit...
Despite a slight decline in revenues, the Bangko Sentral ng Pilipinas’ (BSP) expenses also dropped at a steeper rate, leading to the central bank’s more than double net income in the first three months of the year. Data from the BSP showed that the central bank’s net income jumped by 122.1...
The newly formed alliance of online gaming operators is warning that the recent move by the central bank to cut off easy access to gambling sites via e-wallets could backfire by pushing players into the unregulated black market. The PlaySafe Alliance of the Philippines, comprising 18 online gaming...
While Senator Erwin Tulfo commended the e-wallet firms for complying with the Bangko Sentral ng Pilipinas’ (BSP) 48-hour deadline since August 14 to remove the links of online gambling sites from their mobile applications, he emphasized that the fight against its accessibility is far from over. ...
Cash sent home by Filipinos working and living overseas continued to increase in June on the back of faster inflows from land-based workers, according to the Bangko Sentral ng Pilipinas (BSP). The latest BSP data released on Friday, Aug. 15, showed that overall remittances increased by 3.7 percent...
“I was thrilled,” Bangko Sentral ng Pilipinas (BSP) Deputy Governor for regional operations and advocacy sector, Bernadette “Berna” Romulo-Puyat, unabashedly shared her feelings about her close encounter with US Federal Reserve (US Fed) Chairman Jerome Powell. DG Berna was among the...
E-wallets GCash and Maya will promptly remove all links redirecting users to online gambling sites in compliance with the Bangko Sentral ng Pilipinas’ (BSP) order to remove such links. In a statement late Thursday, Aug. 14, GCash said it would fully comply with the BSP’s directive that...
Senators on Thursday, Aug. 14, became more determined to remove the convenience in accessing online gambling sites through e-wallet applications. The Bangko Sentral ng Pilipinas (BSP) has ordered e-wallet applications to remove, within 48 hours, all online gambling links that appear on their...
