Govt to tap all sources to combat Covid-19

Credit to Author: Mayvelin U. Caraballo, TMT| Date: Wed, 25 Mar 2020 18:00:32 +0000

The government is willing to tap all sources to fund its programs aimed at mitigating the negative impact of the coronavirus disease 2019 (Covid-19) pandemic on Filipinos and the Philippine economy, Finance Secretary Carlos Dominguez 3rd said on Wednesday. In a video call, Dominguez told reporters “we have to do all it takes to achieve […]

Read more

RRR cut lifts PSEi to 5,000 level

Credit to Author: Faye Almazan| Date: Wed, 25 Mar 2020 17:56:57 +0000

The stock market broke through the 5,000 territory on Wednesday as the Bangko Sentral ng Pilipinas’ (BSP) announcement of a considerable reduction in banks’ reserve requirement ratio (RRR) continues to buoy investors. The benchmark Philippine Stock Exchange Index (PSEi) soared by 5.31 percent or 253.49 points to close at 5,027.76, while the wider All Shares […]

Read more

BSP slashes banks’ RRR by 200 bps

Credit to Author: Jordeene B. Lagare| Date: Tue, 24 Mar 2020 16:25:52 +0000

The Bangko Sentral ng Pilipinas (BSP) on Tuesday trimmed banks’ reserve requirement ratio (RRR) by 200 basis points (bps) to calm financial markets and bolster liquidity while Luzon is under a 30-day “enhanced community quarantine” to contain the spread of the coronavirus disease 2019 (Covid-19) in the country. In a text messag, BSP Governor Benjamin […]

Read more

BSP to buy P300-B govt securities

Credit to Author: Mayvelin U. Caraballo, TMT| Date: Mon, 23 Mar 2020 17:09:45 +0000

The central bank announced on Monday that it will buy P300 billion worth of government securities to support the national government’s programs to counter the impact of the coronavirus disease 2019 (Covid-19) on the country. In a statement, the Bangko Sentral ng Pilipinas (BSP) said its policy-making Monetary Board already approved the repurchase agreement with […]

Read more

Thrift banks seek more BSP relief

Credit to Author: Mayvelin U. Caraballo, TMT| Date: Mon, 23 Mar 2020 17:08:42 +0000

The Chamber of Thrift Banks (CTB) is asking the Bangko Sentral ng Pilipinas (BSP) for more regulatory relief that will ensure that lenders will remain liquid and will continue to provide assistance to the public during the month-long “enhanced community quarantine” in Luzon. In a statement on Monday, CTB Executive Director Suzanne Felix said “in […]

Read more

BSP: Feb ‘hot money’ inflows reached $40M

Credit to Author: Mayvelin U. Caraballo, TMT| Date: Fri, 20 Mar 2020 16:15:12 +0000

FOREIGN portfolio investments returned to the positive territory in February, posting net inflows for the first time in four months, data from the Bangko Sentral ng Pilipinas (BSP) showed on Friday. This comes as an analyst predicts that such flows would be reversed on account of the coronavirus disease 2019 (Covid-19) pandemic, which is alarming […]

Read more

PSEi rises on Bangko Sentral rate cut

Credit to Author: Faye Almazan| Date: Fri, 20 Mar 2020 16:11:36 +0000

Philippine shares recovered slightly on Friday from the market carnage the day before after the Bangko Sentral ng Pilipinas trimmed interest rates anew, cheering investors. The benchmark Philippine Stock Exchange Index (PSEi) jumped by 3.36 percent or 155.34 points to close at 4,778.76, while the wider All Shares climbed by 2.33 percent or 67.07 points […]

Read more

BSP slashes interest rates by 50 bps

Credit to Author: Mayvelin U. Caraballo, TMT| Date: Thu, 19 Mar 2020 16:29:45 +0000

The Bangko Sentral ng Pilipinas (BSP) further eased its monetary policy on Thursday by cutting interest rates to support slowing Philippine economic growth amid the coronavirus disease 2019 (Covid-19) outbreak that the government is trying to curb. The central bank’s overnight borrowing, lending and deposit rates were reduced by 50 basis points (bps) to 3.25 […]

Read more

February inflation seen settling within 2.4-3.2%

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 more

BSP offers relief to banks with virus-hit clients

Credit 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 more