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...
Currency pressures from the global oil shock have dissipated, allowing the Philippine peso to rebound and even outperform other regional currencies, Singapore-based UOB said, which expects the previously battered currency to fare better against the United States (US) dollar thanks to falling oil...
Justin Brownlee was ruled out for Gilas Pilipinas’ last game against Australia in the 2027 FIBA World Cup Asian qualifiers third window, the Samahang Basketbol ng Pilipinas announced on the eve of the contest. In an announcement on Sunday, July 5, the federation said Brownlee was forced to sit...
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...
American financial giant Goldman Sachs Group Inc. expects the Bangko Sentral ng Pilipinas (BSP) to raise key borrowing costs through three more 25-basis-point (bp) hikes to 5.5 percent, citing the looming inflation threat from El Niño coupled with the oil shock—a “quicker” transmission of...
Philippine banks’ bad loan ratio further deteriorated to 3.44 percent as of end-May, marking a nine-month high as borrowers struggled to settle loans due to elevated borrowing and business costs. The latest Bangko Sentral ng Pilipinas (BSP) data showed that the banking industry’s gross...
President Marcos reappointed veteran bankers Walter C. Wassmer and Jose L. Querubin to the Bangko Sentral ng Pilipinas’ policymaking Monetary Board, securing their roles through July 2032. The reappointments extend the tenure of both officials to full six-year terms. Wassmer and Querubin were...
The central bank laid out strict reporting guidelines for lenders seeking capital relief on government security valuation losses, mapping out the transitional reporting schedule that begins this month. The Bangko Sentral ng Pilipinas (BSP) issued Memorandum No. M-2026-032 to outline procedures for...
The Bangko Sentral ng Pilipinas (BSP) is proposing a new risk-based supervisory framework to strengthen consumer protection and enhance oversight of local financial institutions. The proposal, which aims to formalize the Financial Consumer Protection Risk-and-Impact Supervisory Model (FCPRISM),...
Japanese financial giant MUFG Bank Ltd. expects the Philippine peso to gradually regain footing against the United States (US) dollar on the back of lower oil prices, improving government spending, and additional interest rate hikes by the Bangko Sentral ng Pilipinas (BSP). MUFG Global Markets...
A progressive group has rejected the move of the Office of the Ombudsman (OMB) to make former Department of Public Works and Highways (DPWH) Secretary Manuel Bonoan a state witness in flood-control cases involving high-ranking government officials, saying it is unacceptable for Bonoan to get off...
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...
