While private-sector economists project further cuts by year-end, the escalating tensions between Israel and Iran have posed challenges for the Bangko Sentral ng Pilipinas (BSP) in its future policy stance, given the lingering threats to inflation and the peso. Bank of the Philippine Islands (BPI)...
The Philippines’ balance of payments (BOP) swung to a $298-million deficit in May, a reversal from the billion-dollar surplus a year ago, as the government drew down its dollar reserves to pay foreign debts. Data from the Bangko Sentral ng Pilipinas (BSP) showed that the country’s BOP, which...
Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona Jr. warned that rising global oil prices and the peso’s depreciation streak could push inflation above five percent, a level last seen nearly two years ago. “We do scenario analysis today [Friday] in which we focus on particular risks....
While the Bangko Sentral ng Pilipinas (BSP) sees no need just yet to defend the Philippine peso amid global oil price risks, the plunging local currency may push monetary authorities into more cautious policy easing moving forward, economists said. Japanese financial giant MUFG Bank Ltd. said that...
The peso dropped to the ₱57 level against the United States (US) dollar on Thursday morning, June 19, ahead of the expected Bangko Sentral ng Pilipinas (BSP) interest rate cut later in the day. According to the Bankers Association of the Philippines (BAP), the local currency opened at ₱57.1,...
While several digital banks are interested in securing banking licenses from the Bangko Sentral ng Pilipinas (BSP), only one foreign digital bank has formally submitted an application, offering to plug the credit scoring and other gaps in existing entities. BSP Deputy Governor Chuchi G. Fonacier...
The Philippine peso has depreciated the most among regional currencies against the safe haven United States (US) dollar so far since Israel attacked Iran and heightened global oil price risks. A June 18 report by Japanese financial giant MUFG Bank Ltd. showed that since June 13, the peso weakened...
Aside from strengthening governance to build investors’ confidence in developing countries like the Philippines, the Washington-based World Bank Group (WBG), the world’s largest development bank, said these economies should also increase job opportunities for women as local branches of foreign...
Cash sent home by Filipinos working and living overseas continued to increase in April, Bangko Sentral ng Pilipinas (BSP) data showed, reflecting stable global employment abroad. Money sent in by overseas Filipinos (OFs) increased by four percent to $2.7 billion in April from $2.6 billion in the...
Israel 's attack on Iran may pause monetary policy easing by the Bangko Sentral ng Pilipinas (BSP) while also weakening the peso, according to foreign banks. “We think that the spike in oil prices on June 13 due to the Israel-Iran conflict is unlikely to derail the BSP 's decision to...
Singapore-based United Overseas Bank (UOB) has downgraded its 2025 economic growth forecast for the Philippines amid global trade uncertainties, which, in turn, bolstered its expectations of further interest rate cuts. In its new quarterly global outlook report for the third quarter of 2025,...
Even as the Philippine peso depreciated against the United States (US) dollar at a pace that was among the worst among emerging market (EM) currencies last week, the Bangko Sentral ng Pilipinas (BSP) is still expected to cut interest rates this week. Data from the Bankers Association of the...
