The central bank is grappling with an “unusual” inflation shock following the historic ₱85 daily minimum wage hike in Metro Manila, though a hyper-aggressive policy response is unlikely, according to Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona Jr. On the sidelines of a BSP book...
Bangko Sentral ng Pilipinas Governor (BSP) Eli Remolona Jr. expects a broader wave of lenders to slash or eliminate fund transfer costs, following aggressive fee waivers by some of the country’s largest banking institutions ahead of a strict weekend regulatory deadline. Speaking at a BSP book...
Following the successful technical testing of the Bangko Sentral ng Pilipinas’ (BSP) wholesale central bank digital currency (wCBDC), which demonstrated the feasibility of 24/7 interbank fund transfers, the BSP is planning to formulate a roadmap to further explore and refine the technology’s...
Persistent price pressures are expected to keep the Bangko Sentral ng Pilipinas (BSP) on alert, but foreign observers are now urging a more dovish stance, including a potential year-long pause, following the central bank 's “restrained” rate hike to 4.75 percent. British banking giant...
Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona Jr. has urged banks to continue strengthening governance, transparency, and internal controls, saying these safeguards become most critical during periods of economic and financial uncertainty. Speaking during the inaugural Corporate...
The research arm of German lender Deutsche Bank expects the Bangko Sentral ng Pilipinas (BSP) to deliver bigger interest rate hikes than previously anticipated as inflation risks intensify, while also lowering its economic growth forecasts for the Philippines amid mounting external pressures and...
The interagency Financial Stability Coordination Council (FSCC) has flagged rising risks to the Philippine financial system stemming from the prolonged war in the Middle East, increasing corporate vulnerabilities, and growing household debt, although officials said the country’s banking sector...
The Bangko Sentral ng Pilipinas (BSP) has amended the exposure limits for unit investment trust funds (UITFs), allowing funds invested in exchange-traded equities to take on larger exposure to a single entity or issuer under certain conditions. Under the BSP’s Circular No. 1234 signed by BSP...
Samarkand, UZBEKISTAN — The Asian Development Bank (ADB) said central banks should be cautious about raising interest rates too quickly in response to supply shock-driven inflation, even as the Bangko Sentral ng Pilipinas (BSP) is now widely expected to tighten monetary policy further after April...
The Bangko Sentral ng Pilipinas (BSP) stated that its governor will respond to a legal complaint once he receives an official copy of the documents, as the country’s monetary authority seeks to maintain focus on its regulatory mandate. In a statement on Monday, April 27, the central bank said BSP...
Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona Jr. remains upbeat that the Philippines can clinch a coveted ‘A’ credit rating within the Marcos administration’s term, provided external pressures subside. “That’s still possible,” Remolona told reporters last week when asked...
The inflation-targeting Bangko Sentral ng Pilipinas (BSP) is expected to raise the policy rate by 25 basis points (bps) to 4.5 percent to confront war-driven price hikes head-on, according to investment banking giant Goldman Sachs. “Given its price stability mandate, we believe the BSP will hike...
