Mactan, Cebu — Amid Trump's comeback, the Bangko Sentral ng Pilipinas (BSP) is considering a 25 basis points (bps) reduction in borrowing costs, either in December or at the next Monetary Board (MB) meeting, as the central bank continues its easing cycle, according to an official. During the...
The country’s external debt service burden dipped 3.8 percent to $8.68 billion as of end-August compared to $9.023 billion in the same period last year, based on Bangko Sentral ng Pilipinas (BSP) data. During the period, external debt service principal payments totaled $3.461 billion, lower by...
The Bangko Sentral ng Pilipinas (BSP) reported a higher net income of P105.6 billion in the first eight months of 2024, a significant 361 percent increase compared to P22.9 billion the same time last year due to more revenues but less expenses. Based on the latest BSP data, revenues totaled P220.2...
The Bangko Sentral ng Pilipinas (BSP) said it is investigating a system error at GCash, the leading e-wallet platform in the country, which resulted in unauthorized deductions from user accounts over the weekend. In a statement late Monday, Nov. 11, the BSP said that it had instructed...
With economic growth slowing to its lowest pace since the second quarter of 2023, economists pointed to lower inflation and eased monetary policy as potential catalysts for boosting consumption, although trade barriers and peso volatility could hinder this progress. "Admittedly, a continued boost...
Big banks’ outstanding loans grew by 11 percent year-on-year in September, an improvement from the 10.4 percent reported in August, according to the Bangko Sentral ng Pilipinas (BSP). Bank lending in peso terms amounted to P12.402 trillion in September, net of reverse repurchase (RRP) placements...
Foreign investments in the Philippines surged in September, nearly doubling compared to August and reversing the trend of money flowing out of the country recorded last year. Data from the Bangko Sentral ng Pilipinas (BSP) showed that foreign direct investment (FDI) net inflows reached $1.03...
The Bangko Sentral ng Pilipinas (BSP) said on Thursday, Oct. 31, that the rate of increase in consumer prices is expected to rise in October after two months of decline, largely due to higher food and fuel prices. In a statement, the BSP projected that October's inflation rate would likely...
By DERCO ROSAL London-based Capital Economics expects that Southeast Asian central banks, including the Bangko Sentral ng Pilipinas (BSP), will likely continue lowering interest rates in the coming months due to anticipated sluggish economic growth and continued low inflation. “With GDP [gross...
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...
