Credit to Author: Mayvelin U. Caraballo, TMT| Date: Fri, 28 Feb 2020 17:05:22 +0000
THE country’s inflation likely eased to as low as 2.4 percent or accelerated to as high as 3.2 percent this month, the Bangko Sentral ng Pilipinas (BSP) said on Friday. The range projected by the central bank’s Department of Economic Research compares with January’s 2.9 percent, but lower than the 3.8 percent posted in February […]
Read moreCredit to Author: Mayvelin U. Caraballo, TMT| Date: Tue, 25 Feb 2020 16:57:32 +0000
QUALIFIED lenders that sustained losses due to their exposure to borrowers and industries severely affected by the African swine fever (ASF) and the coronavirus disease 2019 (Covid-19) may get relief from the Bangko Sentral ng Pilipinas (BSP). In a statement on Tuesday, BSP Governor Benjamin Diokno said granting regulatory relief to these banks and quasibanks […]
Read moreCredit to Author: Mayvelin U. Caraballo, TMT| Date: Thu, 20 Feb 2020 17:28:50 +0000
GEOPOLITICAL tensions and the coronavirus disease 2019 (Covid-2019) outbreak lead to net outflows of foreign portfolio investments reaching an eight-month high in January, the Bangko Sentral ng Pilipinas (BSP) said on Thursday. In a statement, the BSP said last month’s $486.10-million net outflows of these investments, also called “hot money” — so called because of […]
Read moreCredit to Author: Mayvelin U. Caraballo, TMT| Date: Thu, 23 Jan 2020 16:15:50 +0000
THE Bangko Sentral ng Pilipinas (BSP) and the Department of Finance expect the country’s economy to bounce back this year after expanding to 5.9 percent in 2019, its slowest in eight years, missing the government’s target. “A GDP growth of 7 percent looks attainable this year,” BSP Governor Benjamin Diokno said in a message on […]
Read moreCredit to Author: Mayvelin U. Caraballo, TMT| Date: Wed, 18 Dec 2019 15:00:40 +0000
The central bank is likely to cut interest rates by at least 50 basis points next year, but will take it slow in terms of reducing banks’ reserve requirement ratio (RRR), Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said. “For policy cuts, at least 50 basis points (bps). We’re observing what the other central […]
Read moreCredit to Author: Mayvelin U. Caraballo, TMT| Date: Tue, 10 Dec 2019 18:28:54 +0000
AVAILMENTS of the central bank’s peso rediscount facility rose by more than two times in the first 11 months of the year. Bangko Sentral ng Pilipinas (BSP) data on Tuesday showed thaat availments reached P122.16 billion in January to November 2019, 115.01-percent higher than the P56.81 billion borrowed in the same period a year ago. […]
Read moreCredit to Author: Mayvelin U. Caraballo, TMT| Date: Tue, 10 Dec 2019 18:26:49 +0000
The Japanese government has committed to provide technical support to the Duterte administration’s formulation of a regional development master plan designed to maximize the economic potentials of Subic Bay and its surrounding areas, the Department of Finance (DoF) said. In a statement on Tuesday, the Finance department reported the Philippines and Japan signed on December […]
Read moreCredit to Author: Mayvelin U. Caraballo, TMT| Date: Wed, 20 Nov 2019 13:00:13 +0000
THE share of electronic payments (e-payments) to total retail payment transactions in the Philippines has exceeded the central bank’s target, according to its head. “My guess is we are already at 30 percent now,” Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said during a briefing on Wednesday. To recall, the BSP wants to increase e-payments in the country […]
Read moreCredit to Author: mfrialde| Date: Thu, 15 Aug 2019 08:52:43 +0000
MANILA, Philippines — The Senate Committee on Banks, Financial Institutions and Currencies, chaired by Senator Grace Poe is ready to probe the plan to increase fees for automated teller machines (ATM) which she said would be “disadvantageous” to Filipinos. Poe has filed Senate Resolution No. 96, seeking an inquiry on the looming increase in ATM fees. […]
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Credit to Author: besguerra| Date: Tue, 13 Aug 2019 23:27:59 +0000
MANILA, Philippines — Workers in the government and private sectors are balking at any increase in the fee for withdrawing cash from automated teller machines (ATM) that banks are expected to implement as a result of the lifting of a six-year moratorium on fee increases. Government worker Karen said raising ATM fees was “unfair” to […]
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