WASHINGTON — The Federal Reserve on Wednesday emphasized that inflation has remained stubbornly high in recent months and said it doesn't plan to cut interest rates until it has "greater confidence" that price increases are slowing sustainably to its 2% target. The Fed issued its decision in...
The Bangko Sentral ng Pilipinas (BSP) said the inflation rate for the month of April likely settled at a low of 3.5 percent or a high of 4.3 percent versus March’s 3.7 percent, amid elevated gasoline prices and a depreciating peso vis-à-vis the US dollar. Inflation is the increase in the...
The Bangko Sentral ng Pilipinas (BSP) has launched Paleng-QR Ph Plus in the Province of Ilocos Sur and the City of Vigan last April 23, bringing the number of local government units (LGUs) with digital payments in public markets, public utility vehicles, and business establishments to 68. BSP...
The value transactions of banks and non-banks via the PESONet and InstaPay reached P3.81 trillion in the first quarter 2024, up 33 percent from same time last year of P2.87 trillion, based on data from the Bangko Sentral ng Pilipinas (BSP). The combined volume of both PESONet and InstaPay in the...
NEW YORK — The best week for U.S. stocks since November closed out with more gains thanks to Alphabet and Microsoft on Friday. The S&P 500 rallied 1% to finish its first winning week in the last four. The Dow Jones Industrial Average rose 153 points, or 0.4%, and the Nasdaq...
Senator Jinggoy Ejercito Estrada has filed a bill that seeks to require employers nationwide to provide a free financial literacy program for all its employees. Estrada said Senate Bill No. 2630 or the proposed “Personal Finance Education in the Workplace Act” mandates employers to help...
DAVAO CITY – The Bangko Sentral ng Pilipinas-Mindanao, in collaboration with the Philippine Information Agency-11, convened media practitioners in an information session to enhance industry awareness on financial consumer protection on March 21. THE Bangko Sentral ng Pilipinas-Mindanao conducted...
Despite a strong 29.9 percent increase in foreign direct investment (FDI) in December 2023, the country’s full-year 2023 FDI net inflows reached only $8.9 billion, a 6.6 percent decline, from the $9.5 billion net inflows recorded in 2022, data from the Bangko Sentral ng Pilipinas (BSP)...
Finance Secretary Ralph G. Recto said that the central bank’s Monetary Board (MB) will hold its policy meeting on Wednesday, Feb. 14, instead of the originally scheduled Thursday, Feb. 15. Recto, who represents the government on the MB, explained that the seven-member body decided to advance the...
LONDON, United Kingdom -- British bank Barclays said Friday it would stop directly financing its energy clients' new oil and gas projects, but still ran into fierce criticism from campaigners who said the moves don't far enough. As part of its updated climate strategy, the bank added it would...
ILOILO CITY – Starpay Corp. has joined the Paleng-QR PH Plus cashless payment program of the Bangko Sentral ng Pilipinas (BSP) and Department of the Interior and Local Government (DILG) in this city. STARPAY Corp. joins the launching of the Paleng-QR PH Plus cashless program in Iloilo City led by...
BSP Governor Eli M. Remolona (left) swore in Finance Secretary Ralph G. Recto as a new member of the Monetary Board during a ceremony at the BSP headquarters in Manila on Monday, Jan. 22, 2024. Finance Secretary Ralph G. Recto has formally assumed the role of the government's representative to...
