Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno is not ruling out more cuts to banks’ reserve requirement ratio (RRR) this year that would flood more money supply or liquidity sloshing around the financial system. “Further cuts on the RRR remain on the table but it could depend on...
The faster recovery in more advanced economies and possible early start towards normalization will not necessarily translate to a similar monetary policy stance for the Philippines which intends to keep interest rates low in support of growth, according to Bangko Sentral ng Pilipinas (BSP) Governor...
A Bangko Sentral ng Pilipinas (BSP) new guidelines are providing banks with the capability to control and manage hits and threats to their reputation as trusted financial institutions and to avoid triggering systemic risks amid the still raging global health crisis. “As the financial sector...
The Bangko Sentral ng Pilipinas (BSP) will be adding the fiscal and external sectors such as the balance of payments to the list of variables in its policy analysis model for its future decisions and regular forecasting exercises. This will also give BSP a better handle on the short-term outlook...
Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said the government’s non-monetary measures such as reducing import tariff on pork may pull the inflation forecast lower to below four percent this year. Last week, the Monetary Board raised the average inflation forecast for 2021 to...
Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno assured foreign investors that the foreign exchange environment will continue to be stable and he sees no threats to the Philippine peso, making the country an attractive investment location still. “The peso is sound and there’s no...
Banks and other Bangko Sentral ng Pilipinas (BSP) supervised financial institutions (BSFIs) such as pawnshops and e-money issuers have “low” to “medium” risk exposures when it comes to money laundering (ML), terrorist financing (TF) and proliferation financing (PF), based on the BSP’s...
The Bangko Sentral ng Pilipinas (BSP) is projecting that the inflation rate for the first three quarters of 2021 will stay above four percent before easing back to within the 2-4 percent target in the last three months of the year. “Barring additional supply side factors, inflation is projected...
Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said there is no “trade-off” in maintaining an accommodative policy stance where there is low interest rate and increased money supply in the financial system. Diokno continued to assure the market that as far as BSP is concerned,...
The Bangko Sentral ng Pilipinas (BSP) will conduct data-gathering “baselining exercise” in aid of rules being drafted for banks and non-banks’ Data Governance and Ethical Use of Data, said BSP Governor Benjamin E. Diokno. “The baselining exercise will look into BSFIs’ (BSP supervised...
The Bangko Sentral ng Pilipinas (BSP) has lowered the minimum size of investment management account (IMA) held by banks and non-banks to just P100,000 from P1 million. The BSP’s Monetary Board approved Circular No. 1109 during its regular meeting last week. The new circular not only reduced the...
The Bangko Sentral ng Pilipinas (BSP)-led Financial Inclusion Steering Committee (FISC) is strongly urging the quick approval of the proposed Open Access in Data Transmission Act and the signing of an executive order (EO) for satellite-based internet connectivity to accelerate the country’s shift...
