Philippine banks expect loan demand from Filipino entrepreneurs and households to remain steady in the second quarter of the year, according to the central bank, which said banks face a balancing act on lending rules amid the domestic spillover of the Middle East war. Results of the latest...
The Bangko Sentral ng Pilipinas (BSP) is overhauling its oversight of digital threats, ditching a legacy rating system in favor of a framework that forces banks to conduct more frequent and rigorous self-assessments of their cybersecurity defenses. This comes as BSP Governor Eli M. Remolona Jr....
This is the question of the hour, fueled by the domestic financial market’s sustained downswing. Yes, Virginia, the financial market is experiencing significant volatility, with upward pressure expected on both the local currency and inflation. The peso is flirting with the ₱62 mark, inflamed...
Amid surging fuel and electricity costs, worsened by a weakening peso, the Bangko Sentral ng Pilipinas (BSP) expects April inflation to have accelerated to at least 5.6 percent—potentially the fastest pace in nearly three years. In a statement on Thursday, April 30, the BSP said it expects...
United Kingdom (UK)-based think tank Pantheon Macroeconomics said the Philippine economy remains too fragile to quickly pass through surging energy prices into demand-side pressures, suggesting that the latest interest rate hike is likely a one-off move. As such, the benchmark rate at 4.5 percent...
The Philippines faces mounting economic and financial risks from climate change, with projected losses reaching as much as 13 percent of gross domestic product (GDP) by 2040 unless the country urgently scales up climate financing and aligns adaptation and mitigation efforts, according to state-run...
The peso tumbled to a fresh record low on Tuesday, April 28, breaching the 61-level as a resurgent United States (US) dollar and the broad exodus from emerging-market assets overwhelmed the central bank’s recent efforts to shore up the currency through tighter monetary policy. The peso plunged to...
The Philippines’ investment-grade rating remains intact—holding a notch above the minimum investment grade by Fitch (BBB with a negative outlook) and two notches above the minimum by S&P Global (BBB+ with a stable outlook) and Moody’s (Baa2 with a stable outlook). However, former Bangko...
Yuchengco-led Rizal Commercial Banking Corp.’s (RCBC) executive called for an overhaul of regulatory frameworks across Asia, urging authorities to move from static oversight to an active partnership model to accelerate digital financial inclusion. Speaking at the Money20/20 Asia conference in...
The Bangko Sentral ng Pilipinas (BSP) stated that its governor will respond to a legal complaint once he receives an official copy of the documents, as the country’s monetary authority seeks to maintain focus on its regulatory mandate. In a statement on Monday, April 27, the central bank said BSP...
Lawyer Manases R. Carpio, husband of Vice President Sara Duterte, filed on Monday, April 27, criminal charges against Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona Jr. as chairman of the Anti-Money Laundering Council (AMLC), the executive director of AMLC, and four members of the House...
Vice President Sara Duterte’s husband, lawyer Manases Reyes Carpio, will file a criminal complaint on Monday, April 27, accusing financial regulators and House members of illegally disclosing confidential bank records. In an advisory issued on April 26, Carpio said he is scheduled to file the...
