Home Tags BSP

Tag: BSP

June GIR declines to lowest level since 2011

GROSS international reserves (GIR) continued to decline at the mid-year point to their lowest level in nearly seven years, with the central bank continuing to intervene in the foreign exchange market to defend the peso.

Gross reserves drop to lowest level in nearly seven years

THE country's gross international reserves (GIR) continued to decline to the lowest level in about seven years, as the central bank still intervened in...

Inflation surge spurs rate hike view

INFLATION surged in June to a fresh five-year high as it beat market and government estimates given for the month, leaving the door open for another policy interest rate hike.

BSP accredits two VC exchanges

TWO NEW digital currency exchanges have been accredited by the Bangko Sentral ng Pilipinas (BSP), a senior official said.

Demand for term deposits soars

DEMAND SOARED for term deposits offered by the central bank this week, accompanied by a surge in yields to hover close to four percent.

BSP, big banks firm up moves vs cyber threats

BIG BANKS are teaming up for an industry-wide monitoring scheme for cyber breaches just as the Bangko Sentral ng Pilipinas (BSP) is set to impose a one-day reporting period for such incidents.

Home price growth slows in Q1

HOME PRICES in the Philippines posted a modest increase in the first quarter, the Bangko Sentral ng Pilipinas (BSP) said.

Liquidity growth picks up slightly

By Melissa Luz T. Lopez, Senior Reporter MONEY SUPPLY grew faster in May even as growth in bank lending eased, the Bangko Sentral ng Pilipinas...

BSP warns vs fake papers

THE BANGKO SENTRAL ng Pilipinas (BSP) has issued a warning against fake loan documents being peddled by scammers, saying these are not guaranteed by the central bank.

TDF yields climb after BSP hike

YIELDS ON term deposits surged yesterday as banks took advantage of the higher interest rates set by the central bank, with appetite still skewed towards the shortest tenor.

Philippine cryptocurrency transactions steady

DIGITAL CURRENCY conversions in the Philippines steadied near the $40-million mark in recent months, a ranking central bank official said.

Rediscount rates raised after fresh tightening move by BSP

RATES CHARGED on rediscount loans availed by banks have risen beyond the four percent level starting this week, reflecting higher benchmark yields set by the Bangko Sentral ng Pilipinas (BSP).

Rediscount rates for peso loans climb above 4%

Rates charged for rediscount loans availed by banks have risen above the four percent level starting this week, reflecting the higher benchmark interest rates...

Fiscal deficit shrinks by 2% in May

THE GOVERNMENT posted a P32.9-billion fiscal deficit in May, down 2% from P33.4 billion in the same month last year. Overall government revenues in May...

S&P, BMI see need for another rate hike

S&P GLOBAL RATINGS and Fitch Group’s BMI Research expect another rate hike from the Bangko Sentral ng Pilipinas (BSP) within the year, citing the need for further tightening to curb faster inflation and ease pressures on the peso.

Second rate hike may not be enough to help markets

WHILE the Bangko Sentral ng Pilipinas increased its benchmark interest rate for a second month on Wednesday, the action may not be enough to help lift Asia’s worst-performing market, according to some analysts.

BSP eases rediscount loan rules

BANKS will soon have more leeway in acquiring short-term funding from the Bangko Sentral ng Pilipinas (BSP) as the regulator said it will now accept syndicated loans as collateral.

City Savings Bank gets BSP approval to acquire PR Savings

The Bangko Sentral ng Pilipinas has approved the plan of UnionBank of the Philippines' savings lending arm to acquire Philippines Resources Savings Bank Corp....

BSP relaxes rule on rediscount loans

Banks will soon have more leeway in acquiring short-term funding from the Bangko Sentral ng Pilipinas (BSP) as the regulator is accepting syndicated loans...

BSP tightens anew to temper inflation

THE Bangko Sentral ng Pilipinas (BSP) raised rates yesterday after a similar move in May in a bid to arrest future inflation and keep local yields competitive.

TDF demand thins amid lingering uncertainties

DEMAND for term deposits grew even weaker yesterday, with banks crowding the week-long tenor as they take a wait-and-see stance on developments in financial markets.

BSP hikes rates to contain ‘elevated’ inflation

By Melissa Luz T. Lopez, Senior Reporter The Bangko Sentral ng Pilipinas (BSP) raised rates on Wednesday, June 20, following a similar move in May...

Demand for term deposits continue weakening

Demand for term deposits grew even weaker yesterday, with banks crowding the week-long tenor as they take a wait-and-see stance on developments in the...

BSP could maintain policy for now — poll

THE BANGKO SENTRAL ng Pilipinas (BSP) may find room to keep interest rates unchanged this week amid signs that inflation may be slowing, economists said in a poll even as they kept the window open for another hike later this year.

BSP net income surges to P9.82B at end-March

THE BANGKO SENTRAL ng Pilipinas (BSP) saw its bottom line surge fivefold during the first quarter largely on the back of gains from currency trading.

BoP, current account pressures persist

THE BANGKO SENTRAL ng Pilipinas (BSP) expects the country’s external payments position to settle at a wider deficit this year under the pressure of more imports but propped up by service-related inflows and the entry of more foreign capital.

Central bank faces ‘complex’ policy environment

THE MONETARY BOARD (MB) is gearing up for an earlier rate-setting meeting next week as it faces a “fairly complex” mix of faster inflation, a weakening peso and robust economic growth.

BSP looks at further easing of FX rules

WORK is under way for fresh easing of foreign exchange restrictions, with changes being prepared by the central bank meant to simplify the entry and withdrawal of investments.

Rediscount borrowings climb to P1.266 billion

BANKS SECURED bigger loans under the central bank’s peso rediscount window in May to fund more commercial lending and asset purchases at a time of higher borrowing costs.

BSP exec downplays rate hike calls

A CENTRAL BANK official has downplayed calls for a fresh hike in benchmark interest rates in the face of faster inflation, arguing such a move will not arrest supply-driven pressures.

Filipino consumers more optimistic for Q2

MORE Filipinos grew optimistic for the second quarter amid perceived improvement in peace and order, and bigger incomes, the Bangko Sentral ng Pilipinas (BSP) reported on Friday.

BSP may need to tighten policy further — Deutsche Bank

SUCCEEDING rate hikes may need to be implemented by the Bangko Sentral ng Pilipinas (BSP) over the coming year in order to arrest faster inflation and keep the peso competitive, a global bank said.

Deutsche Bank says more BSP rate hikes necessary

Succeeding rate hikes may be needed for the Bangko Sentral ng Pilipinas (BSP) over the coming years in order to arrest faster inflation and...

Monetary Board sees inflation momentum slowing — minutes

INFLATION momentum has been easing as price spikes due to tax reform have decelerated, the central bank said as it decided to raise rates last month in order to temper future price increases.

Wages watched for price impact

AN UNEXPECTED increase in minimum wages could prompt the Bangko Sentral ng Pilipinas (BSP) to raise rates anew, a global bank said, even as inflation is expected to ease over the coming months.

Government flags inflation concern

INFLATION clocked slower than expected in May but still marked the fastest clip in more than five years and kept the year-to-date pace past the government’s 2-4% target for 2018, prompting state economic managers to express concern and assure the public of action in separate statements on Tuesday.

BSP sticks to June 30 deadline for banks’ EMV shift

THE CENTRAL BANK will stick to its June 30 deadline for all banks to shift to microchip-based cards and terminals to elevate security standards.

BSP prepares big banks for stiffer liquidity rules

THE Bangko Sentral ng Pilipinas (BSP) will closely monitor liquidity buffers held by big banks starting July, ahead of adopting tighter rules which ensure that lenders can stay afloat for at least a year.

BSP okays opening of 45 ‘branch-lite’ units by lenders

THE CENTRAL BANK has approved lenders’ plans to open dressed-down branches nationwide, as the financial firms seek to expand their presence to unbanked areas.

Money supply growth slows down in April

MONEY SUPPLY continued to grow at the start of the second quarter although slightly slower than the previous month, even as bank lending accelerated, the Bangko Sentral ng Pilipinas (BSP) said in a statement released late Thursday.

BSP lowers TDF volume for retail bond issuance

THE BANGKO Sentral ng Pilipinas (BSP) reduced the offer volume for the one-week term deposit facility (TDF) auction next week to make way for the government’s retail Treasury bond (RTB) issuance.

Business confidence steadies in Q2

OPTIMISM among firms in the country steadied in the second quarter from the preceding three months -- though it dropped from a year ago -- in the face of expectations of higher prices of goods and as businesses continued to adjust to a new tax regime, a recent central bank survey showed.

Inflation seen to have surged in May

Inflation likely accelerated further in May as oil and rice prices kept rising, the Bangko Sentral ng Pilipinas (BSP) said on Thursday, May 31. Prices...

BSP readies regular poll on bankers’ outlooks

THE BANGKO SENTRAL ng Pilipinas (BSP) will conduct a regular poll to get bank executives’ outlook on economic growth and business prospects.

Yields on term deposits climb

TERM DEPOSITS saw a sharp rise in yields yesterday, with stronger demand seen for longer tenors ahead of a fresh cut in bank reserves.