An off-cycle policy meeting by the Bangko Sentral ng Pilipinas (BSP) could signal to investors that the central bank is falling behind the inflation curve, potentially triggering further market volatility, according to a former senior policymaker. Diwa Guinigundo, a former BSP deputy governor who...
Samarkand, UZBEKISTAN — The Asian Development Bank (ADB) said central banks should be cautious about raising interest rates too quickly in response to supply shock-driven inflation, even as the Bangko Sentral ng Pilipinas (BSP) is now widely expected to tighten monetary policy further after April...
Local monetary authorities face the growing challenge to stabilize surging consumer prices as the initial pass-through of global oil inflation threatens to push the headline rate into double digits by the fourth quarter of the year. The mounting risk that inflation expectations could become...
The Bangko Sentral ng Pilipinas (BSP) is facing mounting pressure to deliver a more aggressive interest rate hike or a rare off-cycle move after inflation surged to a three-year high in April. British banking giant Barclays is now pricing in three consecutive 25-basis-point increases, which would...
Philippine banks not enrolled in the Peso Real-Time Gross Settlement (RTGS) system have been allowed to directly withdraw high-value cash from the Bangko Sentral ng Pilipinas (BSP) during calamities and emergency situations. “Banks not registered in the Philippine Payment and Settlement System...
The peso is at risk of crumbling to a record low of ₱63 against the United States (US) dollar if a protracted Middle East conflict drives oil prices higher and forces Washington to adopt a more hawkish policy stance. Estimates by the Japanese financial giant MUFG Bank Ltd. show that in a risk...
Singapore-based DBS Bank Ltd. sees the Bangko Sentral ng Pilipinas (BSP) potentially calling another off-cycle policy meeting in May, where an interest rate hike may now be on the table, as war-driven pressures continue to weigh on the peso and raise the risk of elevated consumer prices staying...
Philippine banks expect loan demand from Filipino entrepreneurs and households to remain steady in the second quarter of the year, according to the central bank, which said banks face a balancing act on lending rules amid the domestic spillover of the Middle East war. Results of the latest...
The Bangko Sentral ng Pilipinas (BSP) is overhauling its oversight of digital threats, ditching a legacy rating system in favor of a framework that forces banks to conduct more frequent and rigorous self-assessments of their cybersecurity defenses. This comes as BSP Governor Eli M. Remolona Jr....
This is the question of the hour, fueled by the domestic financial market’s sustained downswing. Yes, Virginia, the financial market is experiencing significant volatility, with upward pressure expected on both the local currency and inflation. The peso is flirting with the ₱62 mark, inflamed...
Amid surging fuel and electricity costs, worsened by a weakening peso, the Bangko Sentral ng Pilipinas (BSP) expects April inflation to have accelerated to at least 5.6 percent—potentially the fastest pace in nearly three years. In a statement on Thursday, April 30, the BSP said it expects...
United Kingdom (UK)-based think tank Pantheon Macroeconomics said the Philippine economy remains too fragile to quickly pass through surging energy prices into demand-side pressures, suggesting that the latest interest rate hike is likely a one-off move. As such, the benchmark rate at 4.5 percent...
