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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......»»
2.4M Dabawenyos working as of Oct 2023
The October 2023 Preliminary Employment report by the Philippine Statistics Authority-Davao Region (PSA-Davao) reveals that 64 percent of the 3.780 million Dabawenyos aged 15 and above are part of the labor force, indicating that 2.42 million individuals are employed. This represents a 1.8 percentage point increase from the previous year. The report also highlights a 97.1 percent employment rate in the Davao Region as of October 2023, with a 2.9 percent unemployment rate, lower than the national average. Despite this, the region still maintains the highest employment rate in the Philippines. Additionally, the report compares employment rates across different regions, with Soccsksargen, Barmm, Central Luzon, CAR, Caraga, Western Visayas, Cagayan Valley, Mimaropa, and Central Visayas surpassing the national average. The Bangsamoro Autonomous Region in Muslim Mindanao (Barmm) records the highest labor force participation rate among 17 regions, while the Zamboanga Peninsula has the lowest rate. The data is collected through the Labor Force Survey (LFS) conducted quarterly and monthly by the PSA central office and its regional statistical services offices. The Davao Region, with nearly 6 million inhabitants, remains the 7th most populous region in the country......»»
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......»»
Water bill to rise but no rate hike
Water bill to rise but no rate hike.....»»
BSP to review 3 percent rate cap on credit card transactions
The Bangko Sentral ng Pilipinas will review this month whether to keep or hike the three percent interest rate cap on credit card transactions......»»
Gallent downplays 2-0 Beermen lead over Magnolia
If you were to ask San Miguel head coach Jorge Gallent, the Beermen's 2-0 lead over Magnolia in the PBA Commissioner’s Cup finals is “nothing”......»»
BSP keeps policy rate at 6.5%
In the MB’s first policy rate meeting in 2024, the MB held steady at a 6.5% benchmark interest rate as the country’s inflation risks continued to lean on the upside. .....»»
DOLE-Davao exec calls on Congress to carefully study uniform daily wage hike bill
DAVAO CITY (MindaNews / 11 March) – The legislative push for a nationwide P100 to P400 daily increase for minimum wage earners in the private sector “must be compatible with the socio-economic conditions and purchasing power of each region,” an official from the Department of Labor and Employment – Davao Region (DOLE-Davao) said. “If Congress […].....»»
Philippines inflation rate slows to 2.8 pct in January
MANILA, Feb. 6 (Xinhua) -- Year-on-year inflation in the Philippines further eased to 2.8 percent in January from 3.9 percent in December 2023, the Philippine Statistics Authority (PSA) said on Tuesday. PSA head Dennis Mapa told a press conference that the January inflation rate is the lowest since the 2.3 percent inflation rate was recorded in October 2020. In January 2023, inflation rate was 8.7 percent.....»»
Bill pushing P100 daily wage hike gets Senate nod on 2nd reading
MANILA, Philippines — The Senate on Wednesday approved on second reading a bill pushing for a P100-daily minimum wage hike for private sector workers. Senate Bill No. 2534 under Committee Report No. 190 was unanimously approved during Wednesday’s plenary session. Senate President Juan Miguel Zubiri said that once the wage hike bill gets the final.....»»
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......»»
Rights group calls for deeper look into military’s reprisals vs. rights defenders
As the motion of reconsideration for the terror charges against Ken Rementilla and Jasmin Rubia was denied by an Antipolo prosecutor, human rights alliance Defend Southern Tagalog calls for accountability of notorious rights violators. The post Rights group calls for deeper look into military’s reprisals vs. rights defenders appeared first on Bulatlat......»»
New PNP Provincial Director Conducts Courtesy Calls to High Officials of the Province
After assuming the position as the new head of the Catanduanes Police Provincial Office, Police Colonel Rayan V. Ador conducted a series of courtesy calls to high-ranking officials of the province. PD Ador visited Congressman Jose Bong Teves of the TGP Partylist, Lone District Congressman Leo Rodriguez, Vice Governor Peter Cua, Governor Joseph Cua, as […] The post New PNP Provincial Director Conducts Courtesy Calls to High Officials of the Province appeared first on Bicol Peryodiko......»»
Interest rates to remain at 6.5% — BSP
The Bangko Sentral ng Pilipinas’ (BSP) Monetary Board (MB) decided to retain its target reverse repurchase rate at 6.5%......»»
Pork sumirit presyo sa P400 per kilo – Agri exec
Binabantayan ngayon ng Department of Agriculture (DA) ang pagtaas ng presyo ng karneng baboy sa mga palengke kung saan may umaabot na umano sa P400 per kilo. The post Pork sumirit presyo sa P400 per kilo – Agri exec first appeared on Abante......»»
Esmi ng ex-gov’t exec inalila mall staff
Mistulang ginawang kasambahay ng asawa ng dating government official ang isang staff ng department store nang mag-shopping ito ng kanyang mga gamit. The post Esmi ng ex-gov’t exec inalila mall staff first appeared on Abante......»»
Respect solemnity of Maleldo -- CSF exec
Respect solemnity of Maleldo -- CSF exec.....»»
DepEd exec urges teachers: Avoid corporal punishment
DepEd exec urges teachers: Avoid corporal punishment.....»»
Teen pregnancy rise alarms Popcom 7 exec
Teen pregnancy rise alarms Popcom 7 exec.....»»