The Bangko Sentral ng Pilipinas (BSP) has expressed optimism following the Financial Action Task Force’s (FATF) recent announcement recognizing the Philippines’ progress in addressing anti-money laundering and counter-terrorism financing (AML/CFT) concerns. On Oct. 25, 2024, the FATF declared...
By DERCO ROSAL Citi stated that bank management sees full-time operations as the top priority for banks over the next five years to address cross-border payment challenges. “Our clients and their end-users increasingly expect payment services that are instant and available 24x7,” Citi said in...
By DERCO ROSAL The International Monetary Fund (IMF) expects a wave of interest rate cuts among Asian central banks, driven by strong economic performance, even as it cautions that trade fragmentation could hinder global growth. Domestic demand in advanced Asia is set to strengthen, while emerging...
Central banks in emerging Asian economies like the Philippines are expected to further lower interest rates despite expectations of slower monetary easing if the protectionist former US president Donald J. Trump returns to the White House, according to two economic think tanks. In an Oct. 21...
Moody’s Analytics is projecting that the Bangko Sentral ng Pilipinas (BSP) will further reduce its key interest rate by another 25 basis points (bps) in December. According to Moody’s Analytics, this forecast is based on the country's continued low inflation rates and stable price...
BY DERCO ROSAL German financial services giant Deutsche Bank expects the Bangko Sentral ng Pilipinas (BSP) to continue easing gradually but warns that the US presidential election and trade policy changes could delay further rate cuts. “A key risk to our view is the US presidential election and...
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)...
Film, TV workers gather during the Bagong Pilipinas Serbisyo Fair (BPSF) at the PhilSports Arena in Pasig City on Oct.13. (Speaker’s Office) The Bagong Pilipinas Serbisyo Fair (BPSF)—the flagship public service program of the Marcos...
