The Bangko Sentral ng Pilipinas (BSP) issued a clarification Monday that there will be no grace period for loan payments during the seven-day enhanced community quarantine (ECQ) status while on Holy Week break. The BSP told banks who made the inquiry that the 30-day grace period under the...
Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said the government’s non-monetary measures such as reducing import tariff on pork may pull the inflation forecast lower to below four percent this year. Last week, the Monetary Board raised the average inflation forecast for 2021 to...
The central bank’s Friday auction of 28-day securities fetched a lower rate amid demand, it received P109 billion tenders versus offer of P70 billion. Bangko Sentral ng Pilipinas (BSP) Deputy Governor Francisco G. Dakila Jr. said demand for BSP bills reflects excess liquidity and market...
Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno assured foreign investors that the foreign exchange environment will continue to be stable and he sees no threats to the Philippine peso, making the country an attractive investment location still. “The peso is sound and there’s no...
Residential real estate prices went up by 0.8 percent year-on-year as of end-fourth quarter 2020, boosted mostly by property price increases in areas outside of the National Capital Region (NCR) as homebuyers are favoring provincial locations over developed cities amid the pandemic. Based on a...
Inflation rate forecasts upgraded The Monetary Board of the Bangko Sentral ng Pilipinas (BSP) kept its policy rate at two percent during Thursday’s policy meeting but it raised its inflation rate forecasts for 2021 and 2022 due to rebounding oil prices as the world economy recovers. This is...
The peso closed higher at P48.58 to the US dollar Thursday, (March 25)  from P48.665 the previous day. The weighted average rate  appreciated  to P48.631 from P48.681. Total volume amounted  to $691.29 million, according to the Bankers Association of the Philippines.
Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said they will pro-actively approach banks – especially the large lenders both local and foreign – if they are interested in establishing an Islamic bank or an Islamic banking unit (IBU). So far, Diokno said the BSP is entertaining...
The Bangko Sentral ng Pilipinas (BSP), which has returned to stricter health protocols with the recent increase in COVID-19 cases, is reminding banks to do the same while movement restrictions are in place to stem the more infectious virus-variants transmission. Most banks, especially big banks,...
The central bank’s weekly auction of term deposit facility (TDF) continue to be oversubscribed at P669.41 billion versus offer of P480 billion, while the average rates for the two tenors increased this week again. “The auction results show that, amid ample financial system liquidity, market...
The Bangko Sentral ng Pilipinas (BSP) will likely consider the withdrawal of COVID-19 monetary and banking policy interventions after mid-2022 when the economy is expected to have returned to pre-pandemic growth levels, and assuming herd immunity against the virus has been achieved around the same...
The Bangko Sentral ng Pilipinas (BSP) has mopped up the P2 trillion excess liquidity it has injected in the financial system last year to ensure market rates are in line with the BSP policy rate. The BSP said one of its key monetary operations, the overnight deposit facility (ODF), was the main...
