Total resources of the Philippine financial system rebounded in May, reaching a record ₱37.64 trillion, nearly one percent higher than the ₱37.31 trillion recorded in April, driven by “some hedging and frontloading” of loans before further price spikes occur. This recovery was supported by...
The Bangko Sentral ng Pilipinas (BSP) is scrambling to reassess its inflation trajectory after Metro Manila’s unexpectedly large minimum wage hike threatened to trigger secondary price pressures. BSP Governor Eli Remolona Jr. admitted that the monetary authority was caught off guard by the scale...
The Bangko Sentral ng Pilipinas (BSP) reported a sharp decline in counterfeit currency overall last year, though the regulator is contending with a sudden spike in fake polymer banknotes. According to the Bangko Sentral ng Pilipinas’ (BSP) annual report, documented counterfeit banknotes fell 17.1...
The renewed hostilities in the Middle East have altered the global economic algorithm, reversing cautious optimism and causing severe supply-driven inflation shocks that translate directly into a cost-of-living squeeze as the prices of goods rise. In the context of our daily lives, this...
Digital payments surged past the ₱16-trillion mark in the first half of the year, driven by the dramatic spike in transaction volumes as domestic banks and e-wallet providers aggressively slashed transfer fees. According to the latest data from the Bangko Sentral ng Pilipinas (BSP), total...
Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona Jr. said around $50-billion, or ₱3-trillion, worth of Philippine government bonds are eligible for inclusion in JPMorgan Chase & Co.’s emerging-market (EM) index, a move that could attract billions of dollars in additional foreign...
Philippine thrift banks are backing a central bank proposal to impose a ₱1 billion minimum capital requirement on lenders with highly digital business models, even as the industry continues to prioritize traditional brick-and-mortar growth. Chamber of Thrift Banks (CTB) Convention Committee...
Money sent home by overseas Filipinos (OFs) fell to $2.71 billion in May, dropping to its lowest level in a year and signaling that growth may be losing steam amid renewed deployment risks stemming from the Middle East conflict. The latest Bangko Sentral ng Pilipinas (BSP) data released on...
Philippine banks’ and e-wallets’ decision to waive or lower their interbank InstaPay and PESONet transfer fees has already boosted transaction volumes by up to 50 percent, a senior Bangko Sentral ng Pilipinas (BSP) official revealed. BSP Deputy Governor Mamerto E. Tangonan said in a One News...
Elevated energy costs, weak investment, and softer domestic demand are slowing the Philippines’ recovery from its recent growth slump, according to Singapore-based United Overseas Bank Ltd. (UOB), warranting continued monetary policy tightening by the Bangko Sentral ng Pilipinas (BSP). In its...
Following the rollout of contactless fare payments on Light Rail Transit Line 2 (LRT-2), the government is targeting the launch of the same system on LRT-1 to ease payment bottlenecks and address ticket and Beep card shortages. Starting on Monday, July 13, LRT-2 commuters may use Visa or Mastercard...
A resurgence in global energy prices is poised to test the resilience of the peso, though aggressive monetary policy from the Bangko Sentral ng Pilipinas (BSP) will likely insulate the currency from extreme volatility, according to DBS Bank. DBS senior economist Radhika Rao wrote in a commentary...
