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...
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...
Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona Jr. assured that, despite a liquidity hit, the Philippine banking system remains resilient against bank runs, following the freezing of nearly 730 accounts, with the central bank still in search mode for more suspicious accounts....
The Philippines has been placed on a positive watchlist by J.P. Morgan Chase & Co. for potential inclusion in its influential emerging market government bond index, a move that could attract a new wave of foreign investment and lower the nation 's borrowing costs. In a statement on Monday,...
President Marcos has called on provincial governors to actively expose irregularities in government projects while also adopting programs that will ease the financial burden on Filipino families. Marcos said this following his disclosure of anomalous and “ghost” flood control projects under...
Should banks fail to comply with the central bank’s order to implement a sophisticated fraud management system (FMS), the Bangko Sentral ng Pilipinas (BSP) could go as far as suspending their licenses, on top of holding them liable for losses their clients incur from fraud. “We are the...
The Bulacan Provincial government has started enforcing heightened security measures in schools and universities in the province following reports of increasing crime incidents involving students. Bulacan Governor Daniel R. Fernando led the 3rd Quarter Joint Meeting of the Provincial Peace and...
The Provincial Government of Bulacan (PGB), through the Provincial Health Office–Public Health (PHO-PH), honored 125 blood donors at the Blood Galloner’s Awards 2025 on Wednesday, Aug. 20, for their consistent support to the province 's blood donation drive. The blood donors came from...
“I was thrilled,” Bangko Sentral ng Pilipinas (BSP) Deputy Governor for regional operations and advocacy sector, Bernadette “Berna” Romulo-Puyat, unabashedly shared her feelings about her close encounter with US Federal Reserve (US Fed) Chairman Jerome Powell. DG Berna was among the...
With an already narrow output gap and the economy in a “goldilocks” or ideal state, the Bangko Sentral ng Pilipinas (BSP) said slashing key borrowing costs further by three-quarters of a point is unlikely, with two cuts more likely than one. “I think two is more likely than one. Two is still...
Despite recent interest rate cuts by the Bangko Sentral ng Pilipinas (BSP), inflation hitting nearly six-year lows in recent months, and still-muted second-quarter growth in some sectors, further reductions in key borrowing costs are seen as necessary. “We think the second-quarter GDP [gross...
