NEW YORK — Mortgage rates, credit card rates, auto loan rates, and business loans with variable rates will all likely maintain their highs, with consequences for consumer spending, after the Federal Reserve indicated Wednesday that it doesn't plan to cut interest rates until it has "greater...
The domestic claims of non-bank or other financial corporations (OFCs) grew by 15 percent year-on-year in 2023 to P9.054 trillion from P7.873 trillion, according to the Bangko Sentral ng Pilipinas’ (BSP) Other Financial Corporations Survey (OFCS). The quarterly OFCS is basically an analytical...
President Marcos believes his administration has accomplished much during the first two years of his presidency. President Ferdinand 'Bongbong' Marcos Jr. (Photo courtesy of Malacañang) Marcos made the statement during the oathtaking of the new members of the Partido Federal ng Pilipinas...
Senator Juan Edgardo “Sonny” Angara has filed a bill supporting the citizenship bid of Bennie Boatwright III who is being eyed as another addition to the Gilas Pilipinas national men’s basketball team. Angara filed Senate Bill No. 2646 seeking to grant Philippine citizenship to the...
NEW YORK — U.S. stocks swung to a mixed finish on Wednesday after the head of the Federal Reserve said the cuts to interest rates that Wall Street craves so much are still likely, even if they're delayed because of stubbornly high inflation. The S&P 500 fell 17.30 points, or 0.3%, to...
WASHINGTON — The Federal Reserve on Wednesday emphasized that inflation has remained stubbornly high in recent months and said it doesn't plan to cut interest rates until it has "greater confidence" that price increases are slowing sustainably to its 2% target. The Fed issued its decision in...
As the party gears up for the midterm polls next year, President Marcos called on members of the Partido Federal ng Pilipinas (PFP) to avoid too much politicking and unite in providing the best service to the Filipino people to get the upper hand in the elections. NEW MEMBERS — President...
Foreign portfolio investments, often referred to as “hot money”, yielded net inflows of $377 million in the first quarter this year, a turnaround from the $328 million net outflows transacted in the same period last year, according to the Bangko Sentral ng Pilipinas. For March alone, the ...
The Bangko Sentral ng Pilipinas (BSP) said the inflation rate for the month of April likely settled at a low of 3.5 percent or a high of 4.3 percent versus March’s 3.7 percent, amid elevated gasoline prices and a depreciating peso vis-à-vis the US dollar. Inflation is the increase in the...
The Philippine karate team brought home six gold medals in the recent 11th Southeast Asian Karate Championships in Bangkok, Thailand. PH national karate team (Karate Pilipinas Sports Federation Inc.) Led by SEA Games and Asian Games medalist Sakura Alforte, the karatekas also bagged one silver and...
The Bangko Sentral ng Pilipinas (BSP) has launched Paleng-QR Ph Plus in the Province of Ilocos Sur and the City of Vigan last April 23, bringing the number of local government units (LGUs) with digital payments in public markets, public utility vehicles, and business establishments to 68. BSP...
The value transactions of banks and non-banks via the PESONet and InstaPay reached P3.81 trillion in the first quarter 2024, up 33 percent from same time last year of P2.87 trillion, based on data from the Bangko Sentral ng Pilipinas (BSP). The combined volume of both PESONet and InstaPay in the...
