By DERCO ROSAL While the Bangko Sentral ng Pilipinas’ dual rate cut could stimulate economic growth, UK-based banking giant HSBC warned of potential delays as borrowers may hesitate to take on new debt until the easing cycle is complete. Following the recent 25-basis-point (bp) rate cut to 6.0...
The Bangko Sentral ng Pilipinas (BSP) announced on Friday, Oct. 17, that its coin deposit machines (CoDMs) have collected over P1 billion in coins since their launch in June of last year. As of Oct. 11, 2024, the BSP reported that the CoDMs have amassed a total of P1,008,889.49 in coins, an...
The relative strength or weakness of the Philippine peso would be a consideration for monetary authorities in determining the extent and pace of the ongoing policy easing cycle, economists said. Following the 25-basis point (bp) reduction in the policy rate to six percent on Wednesday, Oct. 16,...
Economic think tanks look forward to more interest rate cuts by the Bangko Sentral ng Pilipinas (BSP) following its second-straight 25-basis point (bp) reduction in the policy rate on Wednesday, Oct. 16. Capital Economics assistant economist Harry Chambers noted in a report that after the BSP again...
The Monetary Board (MB) has announced a second reduction in policy rates by 25 basis points for 2024 while noting that it will “maintain a measured approach in its easing cycle.” In a statement, the Bangko Sentral ng Pilipinas said the MB decided to reduce the Target Reverse Repurchase (RRP)...
By DERCO ROSAL As another Bangko Sentral ng Pilipinas (BSP) interest rate cut looms, economists and bankers are citing various factors entailing easy monetary policy, including slowing inflation and economic growth. Bank of the Philippine Islands (BPI) lead economist Emilio S. Neri Jr. also expects...
The Chamber of Thrift Banks (CTB) is once again urging the Bangko Sentral ng Pilipinas (BSP) to reduce the minimum liquidity ratio (MLR) for thrift banks to 16 percent. Despite the central bank's opposition, CTB president Cecilio San Pedro said a lower MLR would provide much-needed flexibility for...
By Derco Rosal Amid consensus expectations that inflation slid in September, the majority of economists polled by Manila Bulletin are looking forward to the Bangko Sentral ng Pilipinas' (BSP) decision to further reduce interest rates during its upcoming monetary policy meeting on Oct 16. Following...
Downward interest rates and bank reserves would bolster loans to productive economic sectors in the Philippines, according to the World Bank. "Along with lower inflation, the reductions in the real interest rate and lower reserve requirements could spur demand for credit in the near term by...
Senate President Francis "Chiz" Escudero says it's about time to waive service fees on certain electronic fund transfers, as these are long overdue. Escudero had this to say as he backed Bangko Sentral ng Pilipinas' (BSP) move to remove such charges for personal transactions and payments to micro,...
As inflation eases, more economists anticipate two additional interest rate cuts of 25 basis points (bps) each by the Bangko Sentral ng Pilipinas (BSP) in its remaining policy meetings for 2024. In a Sept. 27 report, senior Asia economist Gareth Leather and assistant economist Harry Chambers at...
Philippine banks remain upbeat about the industry’s outlook for the next two years, seeing double-digit growth in their assets, loans, deposits, and net income, as well as plan to maintain robust capital and liquidity positions to maintain institutional stability. Results of the 2023 Banking...
