The Philippines’ gross international reserves (GIR) or United States (US) dollar stock increased to $105.3 billion as of end-June from the previous month’s $105.2 billion, according to the data from the Bangko Sentral ng Pilipinas (BSP). This level increased slightly by $100 million from...
Filipino consumers have become more trusting of digital payment methods, as data from the Bangko Sentral ng Pilipinas (BSP) showed that the value of people’s transactions climbed to more than half of total monthly retail transactions in 2024. According to the central bank’s 2024 report on the...
The inter-agency Financial Stability Coordination Council (FSCC) reassured that Philippine banks maintain robust capitalization and ample liquidity buffers, navigating through global and local challenges. The BSP said in a statement released on Monday, July 7, that during the FSCC’s meeting for...
Germany-based Deutsche Bank stated that the Bangko Sentral ng Pilipinas’ (BSP) cumulative 1.25-percent interest rate reductions have been unable to lift lending growth, as lower borrowing costs were not enough to outweigh persistent economic uncertainty. This follows BSP Governor Eli M. Remolona...
The Bangko Sentral ng Pilipinas is considering two more cuts to key borrowing costs, driven by easing inflation and an economic slowdown attributed to consumer and business uncertainty. Two cuts are “possible,” BSP Governor Eli M. Remolona Jr. told reporters on the sidelines of the 32nd BSP...
The Bangko Sentral ng Pilipinas’ (BSP) push for personal equity and retirement accounts (PERA) is expected to promote the wider adoption of open finance in the Philippines, according to the Tokyo-based think tank Asian Development Bank Institute (ADBI). “The BSP remains committed to advancing...
As manufacturers experience only mild producer price inflation, central banks in emerging markets (EMs), including the Philippines, are expected to cut interest rates some more in the near term. “Encouragingly, the price components of the PMIs [purchasing managers’ indices] fell again in June....
Foreign currency-denominated bank loans in the country posted a slight decrease in the first three months of the year, driven by weakened demand for both short and long-term borrowing from residents and non-residents alike. According to data from the Bangko Sentral ng Pilipinas (BSP), foreign...
The Philippines ' net external liabilities surged by nearly six percent in the first quarter of the year, as the growth of the country 's foreign financial obligations outpaced the expansion of its overseas investments. According to the Bangko Sentral ng Pilipinas (BSP), the increase in...
Citing elevated oil prices and the recent depreciation streak of the Philippine peso, the Bangko Sentral ng Pilipinas (BSP) raised its inflation forecast for June, with the upper band at nearly two percent. According to the BSP’s statement, released on Monday, June 30, consumer price increases...
A slightly higher inflation rate that remains below two percent in June would allow the Bangko Sentral ng Pilipinas (BSP) to cut interest rates some more in August, economists said. In a June 27 report, Deutsche Bank Research economist Junjie Huang said headline inflation could have inched up to...
After swinging to a $3-billion deficit in the first quarter, the Philippines’ balance of payments (BOP) is projected to more than double at $6.3 in the second quarter of the year, marking its widest shortfall in more than four years since the $9.14 billion posted in the last quarter of 2020, the...
