The Bangko Sentral ng Pilipinas (BSP) should hold its benchmark interest rate steady despite cooling economy and stable inflation, as further easing risks being perceived as reactive attempt to shore up flagging confidence and currency stability, according to GlobalSource Partners. In a Dec. 22...
The Bangko Sentral ng Pilipinas (BSP) is intensifying its warnings to the public regarding a sophisticated fraudulent activities that misappropriate the central bank’s name, logo, and the signatures of its top officials to legitimize illegal financial schemes. In an advisory released on Tuesday,...
The National Telecommunications Commission (NTC) ordered internet service providers to immediately block access to 50 online trading platforms operating without authorization from the central bank amid crackdown on unregulated financial services. In a statement, the NTC said its directive follows...
The amount of money circulating in the economy expanded significantly, but that increased liquidity failed to prevent the country’s major banks from posting their weakest loan growth in more than a year. Data from the Bangko Sentral ng Pilipinas (BSP) showed that lending by universal and...
The Bangko Sentral ng Pilipinas (BSP) now expects the Philippine economy to expand below five percent this year, citing the erosion of investor confidence stemming from concerns over the governance of the government 's flood control fund. BSP Governor Eli M. Remolona Jr. told reporters on the...
The Bangko Sentral ng Pilipinas (BSP) warned that the recent plunge of the peso, which has hit new lows, could reignite inflation despite projections that the November rate would settle below the central bank’s target band The BSP on Friday, Nov. 28, cited “higher electricity and oil prices,...
Executive Secretary Ralph G. Recto is set to recommend his successor as the government’s representative on the powerful seven-member Monetary Board (MB) of the Bangko Sentral ng Pilipinas (BSP), naming newly appointed Finance Secretary Frederick D. Go for the influential post. Recto, who...
The interagency Financial Stability Coordination Council (FSCC) is working to establish standardized rules for bond pricing as part of a push to refine open capital market operations. “As part of its capital market development efforts, the FSCC is working to establish a standardized bond pricing...
Metropolitan Bank & Trust Co. (Metrobank) has rolled out its integrated withdrawal and deposit machines (WDMs) to boost transaction efficiency and expand its “phygital” footprint in the country. In a statement, Metrobank, said the new self-service terminals, which fuse two primary banking...
The Bangko Sentral ng Pilipinas (BSP) is expected to deliver a quarter-point interest rate cut next month, but an economist warned the move would not restore lost government credibility or offset the impact of corruption amid expectations of further economic slowdown. Union Bank of the Philippines...
The total resources of the Philippine financial system soared to a record ₱35.58 trillion in the first nine months of the year, driven by the recent lowering of key borrowing costs. According to preliminary data from the Bangko Sentral ng Pilipinas (BSP), the increase of ₱2.18 trillion, or 6.5...
The Philippine gaming sector’s high-speed growth was decelerated sharply in the third quarter, with industry-wide gaming revenue (GGR) plateauing at ₱94.51 billion, a nominal decline from ₱94.61 billion a year earlier. In a statement on Tuesday, Nov. 11, Alejandro H. Tengco, Pagcor chairman...
