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...
A dovish Bangko Sentral ng Pilipinas (BSP) may be constrained by skyrocketing global oil prices, which would further weaken the peso and could force a pause from further interest rate cuts, foreign banks said. In a June 23 report, MUFG Global Markets Research said that if world oil prices rise...
Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona Jr. warned that rising global oil prices and the peso’s depreciation streak could push inflation above five percent, a level last seen nearly two years ago. “We do scenario analysis today [Friday] in which we focus on particular risks....
While the Bangko Sentral ng Pilipinas (BSP) sees no need just yet to defend the Philippine peso amid global oil price risks, the plunging local currency may push monetary authorities into more cautious policy easing moving forward, economists said. Japanese financial giant MUFG Bank Ltd. said that...
The peso dropped to the ₱57 level against the United States (US) dollar on Thursday morning, June 19, ahead of the expected Bangko Sentral ng Pilipinas (BSP) interest rate cut later in the day. According to the Bankers Association of the Philippines (BAP), the local currency opened at ₱57.1,...
While the Philippines’ exit from the European Union’s (EU) high-risk jurisdictions list is expected to ease the country’s access to the EU financial system, debt watcher Moody’s still urged continued vigilance in sectors such as online gaming and cryptocurrency to ensure it does not return...
Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona Jr. said the Japan Credit Rating Agency’s (JCR) latest affirmation of the Philippines’ “A-” credit rating with a stable outlook is expected to strengthen confidence among Japanese investors in the country. On Thursday, June 5, JCR...
The Bangko Sentral ng Pilipinas (BSP) is seen cutting interest rates for two consecutive policy meetings as inflation falls to below-target levels, according to Deutsche Bank Research. In a May 31 report emailed on Monday, June 2, Deutsche Bank Research forecast headline inflation in May at 1.5...
Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona Jr. said that further cuts in banks’ reserve requirement ratio (RRR) may happen next year as the central bank looks to ramp up its liquidity management and make the yield curve more reliable. “It might be for next year. We are trying to...
Bangko Sentral ng Pilipinas (BSP) Assistant Governor Zeno Ronald R. Abenoja was officially sworn in on Tuesday, May 20, as the new Deputy Governor for the Monetary and Economic Sector, succeeding Francis Dakila following his recent retirement. BSP Governor Eli M. Remolona Jr. administered the oath...
The Bangko Sentral ng Pilipinas (BSP) is expected to immediately follow through on last week's 25-basis-point (bp) cut in key interest rates with a similar reduction at its next policy meeting on June 19. "For now, we maintain our view for the BSP's next 25-bp rate cut in June, but it remains...
The anticipated further reduction in interest rates will support this year's robust Philippine economic expansion, according to the think tank Capital Economics. "We expect growth to remain relatively strong in 2025, helped by policy loosening from the central bank," Capital Economics senior...
