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...
After pulling out of the Philippines in October, foreign investors came back in November, putting money into the country's stock market and government bonds, data from the Bangko Sentral ng Pilipinas (BSP) showed. Foreign portfolio investments registered with the central bank reached $96.59 million...
The Philippines saw its overall financial position in relation to the rest of the world improve in the second quarter of the year, the Bangko Sentral ng Pilipinas (BSP) reported. The country’s net external liability position improved from April to June 2024, decreasing by 3.6 percent to P2.9...
Despite potential price increases in some sectors, the Bangko Sentral ng Pilipinas (BSP) anticipates that the rate of increase in consumer prices will remain controlled and within the desired range this month. In a statement on Friday, Dec. 27, the central bank projected that December 2024...
The Bangko Sentral ng Pilipinas (BSP) is touting the success of its polymer banknotes, highlighting their significantly lower counterfeit rates in addition to environmental and practical benefits. In a statement on Thursday, Dec. 26, the BSP said that one of the key findings following the launch of...
