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)...
United Overseas Bank (UOB) is calling for the Bangko Sentral ng Pilipinas (BSP) to raise its key interest rate to five percent at its upcoming policy meeting on Aug. 27, forecasting a final quarter-point increase to counter sticky inflation and support weakening peso. The Singapore-based lender...
Frankfurt-based Deutsche Bank expects the Bangko Sentral ng Pilipinas (BSP) to deliver another interest rate hike at its upcoming Aug. 27 policy meeting, despite slowing headline inflation and underperforming economic growth. In a commentary, Deutsche Bank projected a quarter-point increase this...
Foreign direct investment (FDI) net inflows into the Philippines plunged to $210 million in May, the lowest monthly total in more than 11 years as global economic volatility and geopolitical tensions prompted foreign companies to delay capital commitments. According to the latest data from the...
Pressure on the Bangko Sentral ng Pilipinas (BSP) to raise its benchmark interest rate has eased after economic growth slowed to a post-pandemic low in the second quarter of the year, according to the central bank officials. Speaking to reporters on the sidelines of the central bank’s...
The Philippines faces difficulty bringing inflation back within target as a strengthening El Niño threatens to damage crops and push food prices higher, with the country already posting the highest inflation rate in the region, according to Moody’s Analytics. In an Aug. 7 report, Moody’s...
