Due to the pessimistic outlook from businesses related to flood control concerns, the Bangko Sentral ng Pilipinas (BSP) has lowered its growth projection for next year to 5.3 percent, which is below the reduced target of six to seven percent. BSP Governor Eli M. Remolona Jr. revealed in a One News...
In no uncertain terms, the state-controlled Land Bank of the Philippines debunked any irregularities regarding the release of millions of pesos meant to fund flood control projects, which were instead allegedly pocketed by private and public, elected and appointed, individuals. As a significant...
Even as the Philippine peso faces pressure from foreign fund outflows, the Bangko Sentral ng Pilipinas (BSP) refuses to defend the local currency unless its depreciation could lead to higher consumer prices. According to the Bankers Association of the Philippines (BAP), the peso weakened by 28.5...
Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona Jr. struck a more dovish tone on the central bank’s policy path, signaling that the latest quarter-point reduction to 4.75 percent may not be the final easing this year. Remolona, in a press briefing on Thursday, Oct. 9, backtracked on...
Citing a weaker growth outlook amid infrastructure spending issues stemming from the misuse of public funds, especially on “ghost” flood control projects, the Bangko Sentral ng Pilipinas (BSP) on Thursday, Oct. 9, decided to reduce the key interest rate by 25 basis points (bps) to 4.75 percent...
While private-sector economists anticipate one last monetary policy easing before 2025 comes to a close, in order to safeguard economic growth next year, they do not think the Bangko Sentral ng Pilipinas (BSP) will reduce the key borrowing costs on Thursday, Oct. 9. Singapore-based United Overseas...
Japanese financial giant MUFG Bank Ltd. expects the Bangko Sentral ng Pilipinas (BSP) to maintain the key policy rate at five percent throughout 2025 but anticipates the central bank will reduce it by another one percentage point (ppt) to four percent in 2026. Based on MUFG’s Sept. 24 report,...
Agriculture Secretary Francisco Tiu Laurel is casting doubt on the Bangko Sentral ng Pilipinas’ (BSP) projection that inflation likely quickened in September due to higher rice prices, maintaining that retail prices of the staple remain stable. The BSP estimated that last month’s inflation rate...
The ongoing mudslinging in the political arena, arising from the floodgate mess, sent shivers through the financial market. The peso suffered continuous beating against the United States (US) dollar, and the bourse slid down. Yes, Virginia, the currency, bond, and equities markets are uptight! The...
Lending by big banks or universal and commercial banks (UK/Bs) expanded more slowly in August, with loans—excluding placements in the Bangko Sentral ng Pilipinas’ (BSP) reverse repurchase window—rising 11.2 percent year-on-year, down from 11.8 percent in July. This was the slowest annual...
Posting a double-digit growth, the Philippines registered a net foreign liability of $68.3 billion as of end-June, based on its international investment position (IIP). According to the Bangko Sentral ng Pilipinas (BSP), this increase was driven by inward foreign investments outpacing the...
Revising its narrower forecast earlier, the Bangko Sentral ng Pilipinas (BSP) now sees the Philippines’ balance of payments (BOP) deficit to widen this year and next year due to widening trade-in-goods gap. As of September, the BSP is projecting the BOP hole to widen to 1.4 percent of the...
