Senate President Francis "Chiz" Escudero says it's about time to waive service fees on certain electronic fund transfers, as these are long overdue. Escudero had this to say as he backed Bangko Sentral ng Pilipinas' (BSP) move to remove such charges for personal transactions and payments to micro,...
As inflation eases, more economists anticipate two additional interest rate cuts of 25 basis points (bps) each by the Bangko Sentral ng Pilipinas (BSP) in its remaining policy meetings for 2024. In a Sept. 27 report, senior Asia economist Gareth Leather and assistant economist Harry Chambers at...
Philippine banks remain upbeat about the industry’s outlook for the next two years, seeing double-digit growth in their assets, loans, deposits, and net income, as well as plan to maintain robust capital and liquidity positions to maintain institutional stability. Results of the 2023 Banking...
The Bangko Sentral ng Pilipinas' (BSP) monetary policy easing cycle is expected to extend until the first half of 2025, to slash the key interest rate to 4.75 percent, according to the think tank Capital Economics. "The central bank [BSP] cut interest rates at its August meeting. With growth set to...
Once its "Project Agila" ends in January 2025, the Bangko Sentral ng Pilipinas (BSP) will craft a three- to five-year roadmap in preparation for a possible central bank digital currency (CBDC), a top official said. During a breakout session at the Philippine Institute for Development Studies'...
Beyond the potential for the Bangko Sentral ng Pilipinas (BSP) to ease monetary policy further, what are the broader implications of the US Federal Reserve's substantial 50 basis points interest rate cut? What effects could this have on the Philippine peso, exports (especially if the peso...
The financial industry remains a prime target for cyberattacks, despite the Bangko Sentral ng Pilipinas’ (BSP) new framework to enhance cyber resilience, a global cybersecurity and digital privacy company has warned. Kaspersky, a cybersecurity firm, reported that the finance sector...
Downward inflation augurs well for the Bangko Sentral ng Pilipinas' (BSP) monetary policy easing ahead of the US Federal Reserve, according to the think tank Capital Economics. In a Sept. 13 report, Capital Economics senior Asia economist Gareth Leather and assistant economist Harry Chambers noted...
By Derco Rosal As the Bangko Sentral ng Pilipinas (BSP) started to implement interest rate cuts, small business owners are feeling a wave of optimism. For entrepreneurs like Grace Sarmiento, who owns a hardware store in Cagayan, these changes could signify not just relief but also opportunity. The...
The total assets of the local banking system grew by 12.24 percent to P25.932 trillion as of end-July compared to same period last year of P23.104 trillion, supported by stable deposits, loans and investments. The asset growth enables Philippine banks to improve their lending and investing...
The Bangko Sentral ng Pilipinas (BSP) is planning to transition to a new inflation forecasting model in 2025 for better economic predictions, officials said on Monday, Sept. 9. Currently, the BSP relies on the Multi-Equation Model (MEM) and the Single Equation Model (SEM), which have shown strong...
As inflation falls, the Bangko Sentral ng Pilipinas (BSP) will further lower key interest rates at its next monetary policy stance meeting in October, according to the think tank Capital Economics. "The past week has brought more encouraging news on inflation, with August data showing that...
