While a possibility of a 75 basis-point cut in the key policy rate remains off the table, the Bangko Sentral ng Pilipinas (BSP) has signaled a total of 50 basis points (bps) over 2025, a move to cushion inflation risks. BSP Governor Eli M. Remolona Jr. told reporters during a media...
BAGUIO CITY — Another policy rate cut could be possible at the next Monetary Board (MB) meeting as the Philippine economy grows below capacity, according to the central bank’s governor. During a media information session, Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona Jr. told...
While the Philippine economy has likely accelerated further in the last three months of 2024, majority of the private-sector economists polled by Manila Bulletin doubt its degree was enough to reach the government’s growth target. Following the lower-than-expected quarter-three gross...
The Monetary Board (MB) allowed the Marcos administration to borrow as much as $3.21 (about P186.98 billion) from foreign lenders for the last three months of 2024. For the last quarter of 2024, the $3.21 approved amount accounted for six public sector medium- to long-term foreign borrowings. ...
New rules outlining how the central bank will investigate financial accounts under the Anti-Financial Account Scamming Act (AFASA) await approval from the Monetary Board (MB). The Bangko Sentral ng Pilipinas (BSP) has drafted a circular authorizing the Consumer Account Protection Office (CAPO) to...
The Bangko Sentral ng Pilipinas (BSP) reported strong financial results for the first 10 months of last year, driven by higher revenues, lower expenses, and a significant increase in miscellaneous income. Based on the latest BSP data, the central bank posted a net income of P113.1 billion from...
Despite weaker Asia-Pacific currencies, central banks in the region— including the Philippines'—are expected to continue with monetary policy easing to boost domestic consumption, economists said. "Asian currencies have been under pressure against the US dollar since early October...
The Bangko Sentral ng Pilipinas (BSP) urges banks to prioritize digitalization and financial inclusion to boost economic growth. This call by BSP Governor Eli M. Remolona Jr. to action came during the annual bankers' night held last Friday, Jan. 10, which was attended by key figures in the banking...
With inflation within the target range for 2024 and projected to remain so in 2025, economists polled by the Manila Bulletin expect the Bangko Sentral ng Pilipinas (BSP) to continue reducing key borrowing costs this year. Despite headline inflation rates increasing incrementally month-on-month,...
The expansion of the Philippines’ total debt from foreign creditors continued outpacing the growth of its total foreign assets during the third quarter of 2024, according to the central bank. Data on the country’s net international investment position (IIP) revealed that the net liability...
Banks’ outstanding foreign currency deposit unit (FCDU) loans rose by 0.7 percent as of end-September, an increase of $114 million from the second-quarter level of $15.63 billion as disbursements exceeded principal repayments, the central bank said. According to the Bangko Sentral ng...
The country’s residential property prices posted a 2.3 percent year-on-year drop in the third quarter of 2024, marking the first decline since the pandemic began, the Bangko Sentral ng Pilipinas (BSP) reported. Data from the central bank revealed that residential property prices also fell by 1.6...
