The Bangko Sentral ng Pilipinas (BSP) is not keen on granting another round of payment moratorium on loans as the banking system may not be able to absorb another round of moratorium on debt payments as banks need time to build up buffers while the economy – on the second year of the COVID-19...
Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said he is not worried yet about an inflationary growth as the economy is trying to get off the ground on the back of a supply side-driven rising inflation. “Right now, inflation expectations are well-anchored but we continuously...
The Bangko Sentral ng Pilipinas (BSP) is projecting inflation to rise to 4.7 percent in February versus 4.2 percent in January. BSP Governor Benjamin E. Diokno said the forecast range is a low of 4.3 percent to a high of 5.1 percent for the said month. Diokno, quoting the BSP’s Department of...
The reorganization of the Bangko Sentral ng Pilipinas’ (BSP) currency and digital money sector will ensure the two payments system will continue to smoothly co-exist until the country is a completely cashless society, according to BSP officials. “My own forecast is that the use of old money...
The Bangko Sentral ng Pilipinas (BSP) has started its comprehensive review and assessment of when to reduce or scale back the size of liquidity and COVID-19 relief measures to avoid financial distress post-pandemic. So far, the BSP has infused the financial system P2 trillion in liquidity, or about...
Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said the new law that will help the domestic financial system manage its bad debts during the health crisis and post-pandemic, will significantly decrease banks’ soured loans ratio and encourage deposits and investments. Diokno is...
The local stock market bounced back to the 7,000 level as global stocks rallied. The PSEi hiked 84.85 points or 1.22 percent to close at 7.044.06 as sub-indices rose across the board. A hefty 21.86 billion shares worth P18.16 billion changed hands as gainers beat losers 122 to 89 with 54...
The Bangko Sentral ng Pilipinas (BSP) reported Monday that gross international reserves (GIR) dipped to $108.799 billion in January from December 2020’s $110.117 billion due to government withdrawals to pay for foreign-denominated loans, and changes in the price of gold. The BSP in a statement...
The pandemic-affected cash remittances fell by 0.8 percent year-on-year to $29.903 billion in 2020 from $30.133 billion which was lower than what the Bangko Sentral ng Pilipinas (BSP) estimated was a two percent contraction for the year. “Despite the global slump due to the pandemic,...
The stock market weakened as investors continued to pocket gains while waiting for more cues to buy up stocks. Photo credit: https://www.pse.com.ph The main index dropped 31.8 points or 0.45 percent to close at 6,959.21 with only the Financials and Mining and Oil counters holding their...
Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said they are analyzing and reviewing the currency denominational structure as the country transitions into a cash-lite and non-coin society. “The BSP is currently reviewing the existing currency denominational structure in light of...
Consumer advocacy group Laban Konsyumer Inc. (LKI) said the higher fees in the use of ATM (automated teller machines) will benefit big banks and marginalize the small ones. Photo by Eduardo Soares on Unsplash In a statement, LKI President Victorio Mario Dimagiba questioned and raised concerns on...
