Big banking players and digital lenders should not rely solely on “fit and proper” standards when appointing and retaining executives, the Bangko Sentral ng Pilipinas (BSP) said, calling instead for continuous assessments of their technical expertise, particularly in managing data and cyber...
The Bangko Sentral ng Pilipinas (BSP) signaled it remains prepared to adjust monetary policy further as upside risks to inflation accelerate and spillover effects threaten to broaden across the economy. Speaking at a legislative budget briefing on Monday, Aug. 17, BSP Governor Eli M. Remolona Jr....
Digital payments came just over five percentage points (ppts) short of the Bangko Sentral ng Pilipinas’ (BSP) 70-percent target for 2028, already accounting for nearly two-thirds of the country’s total retail transactions in 2025. BSP Deputy Governor Zeno Ronald R. Abenoja reported during the...
Growth in money sent home by overseas Filipinos slowed to its weakest pace in more than four years in June, as softer economic conditions in host markets and escalating geopolitical tensions in the Middle East dampened worker inflows. According to the latest data from the Bangko Sentral ng...
The Philippines remains far from stagflation despite high inflation and sluggish economic growth, members of the Marcos Jr. administration’s economic team said, pushing back against Monetary Board Member (MBM) Benjamin E. Diokno’s characterization of the current situation as “stagflation...
The Bangko Sentral ng Pilipinas (BSP) retains room for an additional 50 basis points (bps) of rate hikes at its remaining policy meetings, potentially closing the year with a benchmark rate of 5.25 percent, according to Japanese financial giant MUFG Bank Ltd. MUFG Global Markets Research wrote in...
The Philippine financial system’s total resources climbed to a record ₱38.31 trillion at the end of the second quarter, driven by sustained loan expansion and accelerated deposit accumulation following a major increase in deposit insurance coverage. According to preliminary data from the Bangko...
For a long time, the prevailing narrative surrounding Islamic banking in the Philippines was trapped in a narrow frame. Most consumers assumed it was a niche service exclusive to Muslim communities or strictly intended for regional development in Mindanao. Amenah “Mina” Pangandaman,...
Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona Jr. said the central bank had projected second-quarter economic growth to pick up faster than the actual reading, but noted that output remains weak. Speaking at the Economic Journalists Association of the Philippines (EJAP) economic forum...
Business activity is on the rise in sports, particularly in two racket sports, tennis and pickleball, while badminton takes a relative backseat, though it remains a long-time staple in barangay and school leagues. Yes, Virginia, while tennis retains a dedicated, high-skill following, there’s a...
Philippine financial technology (fintech) firms are backing a Bangko Sentral ng Pilipinas (BSP) proposal that would require banks and nonbanks to move away from accepting multiple forms of identification for account opening and digital onboarding and instead recognize the national ID as the primary...
President Marcos’ economic managers will outline their roadmap for navigating global market volatility and domestic pressure at the annual Economic Journalists Association of the Philippines (EJAP) forum on Friday, Aug. 14. Finance Secretary Frederick Go, Bangko Sentral ng Pilipinas (BSP)...
