The global virus outbreak impacted on the country’s foreign portfolio investment or hot money which was a net outflow of $4.24 billion in 2020, unsurprisingly bigger than the net outflows in 2019 of $1.9 billion, as investors prefer to be liquid during the pandemic. The Bangko Sentral ng...
Under new economy To improve the monitoring of COVID-19 impact on the macroeconomy, the Bangko Sentral ng Pilipinas (BSP) is tracking other useful information such as mobility data and texts analytics from newspaper articles to supplement and complement traditional statistics to measure...
Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said Thursday that the BSP could extend the imposition of a two percent ceiling on credit card interest rates for longer than six months to help Filipinos better manage their credit card debts. “That can be extended beyond the original...
The local stock market ended slightly weaker even after the government announced that the economy shrank by a lower rate in the last quarter. The main index shed 11.77 points or 0.17 percent to close at 6,851.84 with only the Property and Holding Firms counters remaining in the green. Volume...
With banks’ excess cash, the Bangko Sentral ng Pilipinas’ (BSP) weekly auction of term deposit facility (TDF) continue to be oversubscribed with total bids of P704.77 billion, although lower compared to the previous P756.71 billion. Wednesday’s TDF was offered at P610 billion, up from...
The Bangko Sentral ng Pilipinas (BSP) has updated and revised its rules on the exchange of virtual assets (VA) by expanding the guidelines covering virtual currency exchanges (VCEs) and the registration and the granting of license of virtual asset service providers (VASP). The amendment basically...
Local share prices fell on renewed concern over the possibility of imposition of greater restrictions in light of the growing number of new COVID-19 cases. The PSEi dropped 94.34 points or 1.33 percent to close at 6,977.16 as all sectors retreated. Volume was higher at 74.53 billion shares worth...
The Bangko Sentral ng Pilipinas’ (BSP) total loans and advances to banks by end-November 2020 increased to P680.76 billion, or 3x more than what was reported same period in 2019. The surge in the BSP loans and advances were reported in June up to November last year, compared to declines recorded...
The COVID-19 pandemic has put on hold foreign banks’ plan to establish local units or branches in the Philippines. “As of now, no application to establish foreign bank is received by the FSS (Financial Supervision Sector),” according to Bangko Sentral ng Pilipinas (BSP) Deputy Governor Chuchi...
Economists surveyed by the Bangko Sentral ng Pilipinas (BSP) have adjusted its inflation expectation higher for 2021 but steady for 2022, while the BSP continue to communicate its intention to maintain low borrowing rates. Based on the central bank’s latest Private Sector Economists’...
The Bangko Sentral ng Pilipinas (BSP) said it has fully awarded its 28-day bills offered at P100 billion. The BSP securities auction received P162.80 billion tenders on Friday, lower than January 15’s P167.25 billion bids. The BSP bills fetched a lower average rate this week of 1.6362 percent...
The Philippine stock market fell as foreign funds continue to flow out. The main index dropped 94.46 points or 1.32 percent to close at 7,045.83 with only the Industrial and Mining & Oil counters advancing. Volume dipped to 135 billion shares worth P11.39 billion with loaers edging out gainers...
