The Bangko Sentral ng Pilipinas (BSP) announced on Friday, Oct. 17, that its coin deposit machines (CoDMs) have collected over P1 billion in coins since their launch in June of last year. As of Oct. 11, 2024, the BSP reported that the CoDMs have amassed a total of P1,008,889.49 in coins, an...
The relative strength or weakness of the Philippine peso would be a consideration for monetary authorities in determining the extent and pace of the ongoing policy easing cycle, economists said. Following the 25-basis point (bp) reduction in the policy rate to six percent on Wednesday, Oct. 16,...
Economic think tanks look forward to more interest rate cuts by the Bangko Sentral ng Pilipinas (BSP) following its second-straight 25-basis point (bp) reduction in the policy rate on Wednesday, Oct. 16. Capital Economics assistant economist Harry Chambers noted in a report that after the BSP again...
By DERCO ROSAL As another Bangko Sentral ng Pilipinas (BSP) interest rate cut looms, economists and bankers are citing various factors entailing easy monetary policy, including slowing inflation and economic growth. Bank of the Philippine Islands (BPI) lead economist Emilio S. Neri Jr. also expects...
The Chamber of Thrift Banks (CTB) is once again urging the Bangko Sentral ng Pilipinas (BSP) to reduce the minimum liquidity ratio (MLR) for thrift banks to 16 percent. Despite the central bank's opposition, CTB president Cecilio San Pedro said a lower MLR would provide much-needed flexibility for...
By Derco Rosal Amid consensus expectations that inflation slid in September, the majority of economists polled by Manila Bulletin are looking forward to the Bangko Sentral ng Pilipinas' (BSP) decision to further reduce interest rates during its upcoming monetary policy meeting on Oct 16. Following...
Downward interest rates and bank reserves would bolster loans to productive economic sectors in the Philippines, according to the World Bank. "Along with lower inflation, the reductions in the real interest rate and lower reserve requirements could spur demand for credit in the near term by...
Senate President Francis "Chiz" Escudero says it's about time to waive service fees on certain electronic fund transfers, as these are long overdue. Escudero had this to say as he backed Bangko Sentral ng Pilipinas' (BSP) move to remove such charges for personal transactions and payments to micro,...
As inflation eases, more economists anticipate two additional interest rate cuts of 25 basis points (bps) each by the Bangko Sentral ng Pilipinas (BSP) in its remaining policy meetings for 2024. In a Sept. 27 report, senior Asia economist Gareth Leather and assistant economist Harry Chambers at...
The Bangko Sentral ng Pilipinas' (BSP) monetary policy easing cycle is expected to extend until the first half of 2025, to slash the key interest rate to 4.75 percent, according to the think tank Capital Economics. "The central bank [BSP] cut interest rates at its August meeting. With growth set to...
Once its "Project Agila" ends in January 2025, the Bangko Sentral ng Pilipinas (BSP) will craft a three- to five-year roadmap in preparation for a possible central bank digital currency (CBDC), a top official said. During a breakout session at the Philippine Institute for Development Studies'...
Beyond the potential for the Bangko Sentral ng Pilipinas (BSP) to ease monetary policy further, what are the broader implications of the US Federal Reserve's substantial 50 basis points interest rate cut? What effects could this have on the Philippine peso, exports (especially if the peso...
