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Cuts in bank reserves unlikely soon – BSP
The Bangko Sentral ng Pilipinas is unlikely to cut banks’ reserve requirement ratio in the third quarter, amid expectations of policy rate cuts in the second half of the year......»»
Federal Reserve Chair Jerome Powell discusses interest rate cut timeline | The Daily Guardia
Federal Reserve Chair Jerome Powell has declared that interest rate cuts are improbable in the coming months, despite a robust economy and declining inflation. The.....»»
BSP onboards 1st nonbank electronic money issuer
The Bangko Sentral ng Pilipinas (BSP) achieved a significant milestone by welcoming OmniPay, Inc. as the first nonbank electronic money issuer (EMI) participant in its Real Time Gross Settlement (RTGS) payment system, PhilPaSSplus. This move aligns with the National Payment Systems Act and signifies a more inclusive national payment system, allowing nonbank financial institutions to conduct efficient and low-risk funds transfers directly through the central bank. Assistant Governor Mary Anne P. Lim emphasized the BSP's commitment to safeguarding the entire Peso RTGS payment system amidst global trends of diversified participation. With 236 institutions, including various banks and nonbank entities, utilizing PhilPaSSplus for large value transactions and retail payment clearing, the BSP's initiative reflects a broader trend of central banks facilitating direct access for nonbank entities to settlement services. This development comes as international standard-setting bodies work on access guidelines to manage risks in evolving payment systems with new players and financial technologies......»»
BSP rate cuts seen in lockstep with US Fed
The Bangko Sentral ng Pilipinas is expected to move in lockstep with the US Federal Reserve as it pivots to an easing cycle after emerging as the most aggressive central bank in the region......»»
Gradual BSP rate cuts likely by Q3
The Bangko Sentral ng Pilipinas is expected to make gradual interest rate cuts starting in the third quarter of the year, according to global banking giant Citi......»»
Mutya ng Dabaw updates rules: No height requirement, mothers welcome to join
Mutya ng Dabaw follows the trend of abolishing the height requirement for candidates and allowing mothers to join pageants.....»»
NEDA’s bid to scrap telcos’ congressional franchise requirement opposed
The head of the 28-member minority bloc in the House of Representatives has opposed a proposal of the National Economic and Development Authority to scrap the legislative franchise requirement for telecommunications companies......»»
Bank loans used as RRR compliance hit P6.4 billion
Mid-sized and small banks have extended around P6.4 billion loans to micro, small and medium enterprises (MSMEs) as well as large companies, and booked these loans in compliance with their reserve requirement ratios, according to the Bangko Sentral ng Pilipinas......»»
BSP logs 40K complaints relating to financial consumer protection; only 5% come from Mindanao
SINCE the effectivity of the Financial Consumer Protection Act (Republic Act 11765) in June 2022, the Bangko Sentral ng Pilipinas (BSP) has logged more than 40,000 complaints from customers of different BSP-supervised financial institutions from all over the Philippines. Of this number, only around 5 percent come from Mindanao, implying the Mindanaoans' unawareness of the law......»»
BSP Governor Eyes Potential Rate Cut as Inflation Eases
In a recent interview, Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona Jr. hinted at a potential rate cut later this year, signaling optimism amid the nation’s economic landscape. While cautious about the first semester, Remolona remains watchful, stating that the move could come “within the year.” The BSP, responding to escalating inflation, had hiked […].....»»
BSP governor says February rate cut not likely
In statements made to the press, BSP Governor Eli Remolona said that due to the “numbers we are seeing” a rate cut “is not likely (on) February 15”, which is the next scheduled meeting date for the BSP’s Monetary Board......»»
ERC suspends reserve market settlement
The Energy Regulatory Commission has ordered the Philippine Electricity Market Corp. and the Independent Electricity Market Operator of the Philippines Inc. to suspend settlement amounts in the reserve market......»»
US Federal Reserve holds steady
The US Federal Reserve decided to hold its interest rates steady for the 5th consecutive meeting......»»
Naval Reserve Command eyes mobilization center in north Negros
Naval Reserve Command eyes mobilization center in north Negros.....»»
Power reserve market starts full commercial operations
The Independent Electricity Market Operator of the Philippines commenced yesterday the full commercial operations of the reserve market, a development seen as a significant step forward for the energy sector......»»
BSP on guard vs inflation risks amid El Niño
The BSP chief said headline inflation likely further accelerated to 3.9 percent in March from 3.4 percent in February due to base effects, but lower than the 7.6 percent in March 2023......»»
BSP sees room for further rate hike
After discounting the possibility of a rate cut in the first half of the year, the Bangko Sentral ng Pilipinas (BSP) believes there is still room to raise interest rates amid the country’s robust economic growth......»»
Shares gain anew on rate cut hopes
The stock market advanced for a second consecutive session yesterday, buoyed by indications that the vs Federal Reserve will make interest rate cuts later this year......»»
Stocks move in step with Asia-wide rally
Local stocks recovered yesterday, moving in step with Asian peers, ahead of US inflation data that could influence the Federal Reserve’s thinking on rate cuts, while the crypto world got a boost after exchange-traded funds to track Bitcoin were approved in the United States......»»
Household cuts rice consumption
Household cuts rice consumption.....»»