The Philippine Stock Exchange Index (PSEi) moved up as investors started buying again on improving sentiment. PSE file photo The main index gained 44.29 points or 0.65 percent to close at 6,903.75 with only the Industrial and Services counters declining. Volume was a little higher at 36.2 billion...
For the first time since late 2006, big banks’ outstanding loans declined by 0.7 percent year-on-year in December 2020 during the initial year of the COVID-19 pandemic which pulled the economy into a recession. Total bank lending net of banks’ reverse repurchase (RRP) placements with the Bangko...
The central bank’s term deposit facility (TDF) auction was still oversubscribed but results were mixed while yields continue to decline. “There was a slight undersubscription in the 7-day TDF, receiving bids 0.88x the offer volume. Meanwhile, the 14-day TDF was oversubscribed with bids 1.16x...
The local stock market ended slightly weaker even after the government announced that the economy shrank by a lower rate in the last quarter. The main index shed 11.77 points or 0.17 percent to close at 6,851.84 with only the Property and Holding Firms counters remaining in the green. Volume...
Local share prices fell on renewed concern over the possibility of imposition of greater restrictions in light of the growing number of new COVID-19 cases. The PSEi dropped 94.34 points or 1.33 percent to close at 6,977.16 as all sectors retreated. Volume was higher at 74.53 billion shares worth...
Economists surveyed by the Bangko Sentral ng Pilipinas (BSP) have adjusted its inflation expectation higher for 2021 but steady for 2022, while the BSP continue to communicate its intention to maintain low borrowing rates. Based on the central bank’s latest Private Sector Economists’...
The Bangko Sentral ng Pilipinas (BSP) said it has fully awarded its 28-day bills offered at P100 billion. The BSP securities auction received P162.80 billion tenders on Friday, lower than January 15’s P167.25 billion bids. The BSP bills fetched a lower average rate this week of 1.6362 percent...
The Philippine stock market fell as foreign funds continue to flow out. The main index dropped 94.46 points or 1.32 percent to close at 7,045.83 with only the Industrial and Mining & Oil counters advancing. Volume dipped to 135 billion shares worth P11.39 billion with loaers edging out gainers...
The World Bank has approved two loans to the Philippines to support the country's recovery efforts from the coronavirus pandemic, improve competitiveness, as well as build resilience against shocks and natural disasters. In a statement, the Washington-based lender, said it approved $900 million...
With increased online transactions due to the holidays, the Bangko Sentral ng Pilipinas (BSP) is reminding banks to remain vigilant against cyber attacks, specifically phishing or the fraudulent acquisition of sensitive data or information. Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E....
The Bangko Sentral ng Pilipinas (BSP) is allowing universal and commercial banks to electronically submit six foreign exchange (FX) transaction documents to lessen risks of COVID-19 transmission in the handling of hardcopy. Based on a new memo (BSP Memorandum Order No. M-2020-089) that BSP Deputy...
The Bangko Sentral ng Pilipinas (BSP) is proposing the creation of an Open Finance Oversight Committee (OFOC), an industry-led self-governing body, as part of the country’s open finance framework. BSP Governor Benjamin E. Diokno ( Bloomberg file photo) Based on the draft circular on open finance,...
