Residential property prices posted their slowest inflation rate in nearly seven years, or since before the Covid-19 pandemic, as Filipinos stepped on the brakes on borrowing from banks to purchase housing amid tighter lending standards. “Residential property prices in the Philippines continued to...
The peso tumbled to a fresh record low on Friday, March 27, breaching the 60.5-level as geopolitical tensions in the Middle East intensified and the central bank signaled it sees no immediate need to defend the currency. The peso weakened to ₱60.55 per dollar, surpassing the previous historic low...
Foreign lenders are backing the Bangko Sentral ng Pilipinas’ (BSP) increasingly hawkish stance as the local economy grapples with war-driven oil price volatility and supply disruptions. Nomura Holdings Inc., a Japanese investment and brokerage giant, raised its expectations for “significant”...
While Philippine monetary authorities maintained the current policy rate at 4.25 percent in a rare off-cycle meeting, the Bangko Sentral ng Pilipinas (BSP) said it would hike key interest rates if second-round effects from war-driven oil supply shocks occur. “Once we see second-round effects from...
Even as foreign lenders expect the Bangko Sentral ng Pilipinas (BSP) to tighten sooner rather than later, as inflation could breach what is deemed manageable this year, the central bank decided to keep the policy rate unchanged in a rare off-cycle meeting on Thursday, March 26. While inflation is...
The Anti-Money Laundering Council (AMLC), the Philippine financial intelligence unit, has begun searching for its next executive director as Matthew David prepares to step down and seek another position within the Bangko Sentral ng Pilipinas (BSP). David led several asset freezes and seizures...
Around 40 financial technology (fintech) companies are now phasing out one-time passwords (OTPs) in their security systems, as the financial industry races to meet the Bangko Sentral ng Pilipinas’ (BSP) midyear deadline for adopting more advanced anti-fraud systems. Lito Villanueva, founding...
The ongoing conflict has created economic shockwaves, leaving the oil supply hanging in the balance and price pressures threatening our collective affordability. Yes Virginia, there’s no stopping inflation from rearing its ugly head. It could stay with us indefinitely depending on the resolution...
As an eternal student of the financial markets, the introduction of new financial products and platforms almost always captivates my interest. Currently, I am fascinated by the acronyms IRS and GMRA. No, Virginia, IRS is not the Internal Revenue Service of the US federal government. In this...
Enthusiasm almost always prevails among members of the Management Association of the Philippines (MAP) during their general membership meetings. Last Wednesday was exceptional, though. The event was packed, with no less than Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona conducting the...
This year, the Bangko Sentral ng Pilipinas (BSP) took a divergent path for its annual Banking Community cocktails, holding the event at the Courtyard of the Philippine International Convention Center (PICC). The lobby of Manila’s premier event venue was a sight to behold: its marble floors...
President Marcos met with Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona Jr. in Malacañang to discuss the central bank’s recent interest rate cut and the country’s near- to medium-term economic outlook. During the meeting on Tuesday, Jan. 20, Remolona briefed the President on the...
