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BSP raises peso rediscount rates

The Bangko Sentral ng Pilipinas raised its rediscount rates on loans extended to local banks to finance the expansion needs of businesses and households after lifting its benchmark interest rates last week due to rising inflation......»»

Category: financeSource: philstar philstarMay 16th, 2018

BSP adjusts rediscount yields following rate hike

RATES for the central bank’s peso rediscount window have been adjusted upward following the Monetary Board’s decision to raise interest rates last week. In a statement, the Bangko Sentral ng Pilipinas (BSP) announced that yields under the rediscount facility have been raised to reflect higher benchmark rates set by the monetary authority during their May […] The post BSP adjusts rediscount yields following rate hike appeared first on BusinessWorld......»»

Category: financeSource:  bworldonlineRelated NewsMay 15th, 2018

Peso rediscount loans hit P7.6 billion in 4 months

Rediscount loans extended to local banks to finance the expansion needs of businesses and households reached P7.65 billion in the first four months of the year, data from the Bangko Sentral ng Pilipinas (BSP) showed......»»

Category: financeSource:  philstarRelated NewsMay 12th, 2018

DICT moves to lower text, call rates of telcos

    The Department of Information and Communications Technology (DICT) is embarking on a consumer-friendly move to cut interconnection rates for calls and text messaging, taking aim at a multi-billion peso revenue source for the telcos. The DICT issued an order dated May 11, 2018, directing the National Telecommunications Commission (NTC) to craft "concrete measures" that will reduce prevailing access charges for mobile calls and short message services (SMS) to the "minimum" amount. The DICT wants to lower the cost of mobile calls and text messaging, which it claimed were among the highest in the Philippines compared to the rest of Asia. It said this would also ...Keep on reading: DICT moves to lower text, call rates of telcos.....»»

Category: newsSource:  inquirerRelated NewsMay 12th, 2018

One more rate hike likely in 2018, say economists

Economists see another interest rate increase this year after the Bangko Sentral ng Pilipinas finally raised interest rates by 25 basis points last Thursday to address concerns over rising inflation, weakening of the peso as well as strong credit and import growth......»»

Category: financeSource:  philstarRelated NewsMay 11th, 2018

Peso falls vs US dollar after BSP rate hike

THE peso dropped against the dollar on Friday following the “dovish” remarks from the Bangko Sentral ng Pilipinas (BSP), which raised interest rates for the first time in nearly four years. The peso closed the session at P52.19, dipping 39 centavos from the P51.80-per-dollar finish. The peso traded weaker the whole day, opening the session […] The post Peso falls vs US dollar after BSP rate hike appeared first on BusinessWorld......»»

Category: financeSource:  bworldonlineRelated NewsMay 11th, 2018

BSP raises key interest rates

After standing its ground despite rising inflation since the start of the year, the Bangko Sentral ng Pilipinas finally raised its key interest rates yesterday, saying that prices of goods and services might continue rising beyond its original forecasts for this year and next. In a briefing, BSP Governor Nestor Espenilla Jr. said the policy making Monetary Board decided to increase its overnight rate by 25 basis point to 3.25 percent---its first hike since September 2014. More importantly, the central bank hinted that its finger was on the trigger, ready to fire off another rate hike "as necessary to ensure the achievement of its price and financial stability objectives." "In de...Keep on reading: BSP raises key interest rates.....»»

Category: newsSource:  inquirerRelated NewsMay 10th, 2018

Banks’ rediscount borrowings climb to P615M at end-April

BANKS SECURED fresh rediscount loans from the Bangko Sentral ng Pilipinas (BSP) last month, largely to fund commercial lending and capital expenses. Total availments under the central bank’s peso rediscount window reached P615 million in April, lower than the P1.226 billion which players secured in March. The amount is higher than the P15 million availed […] The post Banks’ rediscount borrowings climb to P615M at end-April appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsMay 10th, 2018

Bangko Sentral ng Pilipinas hikes interest rates for first time since 2014

MANILA, Philippines – For the first time in over 3 years, the  Bangko Sentral ng Pilipinas (BSP) lifted the benchmark interest rate to 3.25% in a bid to help the economy withstand rising inflation and the weakening peso. The central bank's Monetary Board on Thursday, May 10, decided ........»»

Category: newsSource:  rapplerRelated NewsMay 10th, 2018

BSP raises rates on elevated inflation and robust economic growth

The Bangko Sentral ng Pilipinas (BSP) raised rates on Thursday, May 10, marking the first tightening move in nearly four years at a time of five-year highs for inflation and robust economic growth. The Monetary Board raised policy settings by 25 basis points during their third review for the year. Rates now stand at 3.75% for […] The post BSP raises rates on elevated inflation and robust economic growth appeared first on BusinessWorld......»»

Category: financeSource:  bworldonlineRelated NewsMay 10th, 2018

BDO raises P8.2B from LTNCDs

BDO Unibank, Inc. raised P8.2 billion from its long-term negotiable certificates of deposit (LTNCD), which it wants to use to manage the bank’s liabilities. At the ceremonial listing of the investment instruments on Monday at the Philippine Dealing System (PDS), the Sy-led BDO said it raised P8.2 billion from the peso-denominated issue. The notes will […] The post BDO raises P8.2B from LTNCDs appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsMay 7th, 2018

Weak peso, inflation spike may prompt BSP rate hike

The weak peso and higher inflation may prompt the Bangko Sentral ng Pilipinas to finally raise interest rates next month......»»

Category: financeSource:  philstarRelated NewsApr 18th, 2018

BSP sees drop in peso rediscount facility availment

By Melissa Luz T. Lopez Senior Reporter BANKS KEPT availing of rediscount loans from the Bangko Sentral ng Pilipinas (BSP) in March, which went to support commercial lending and for capital spending. The BSP said in a report that players secured P1.226 billion worth of credit under its peso rediscount window last month, marking the […] The post BSP sees drop in peso rediscount facility availment appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsApr 10th, 2018

Peso expected to weaken vs dollar to ₱53 by Sept. — ANZ

By Melissa Luz T. Lopez Senior Reporter THE PESO could breach the P53 level against the dollar later this year given the central bank’s reluctance to raise policy rates, ANZ Research said. ANZ sees the peso trading at P53 by September and P53.50 by year’s end. “In the case of PHP, the deterioration in the […] The post Peso expected to weaken vs dollar to ₱53 by Sept. — ANZ appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsMar 28th, 2018

Peso weakens after BSP, Fed rates decisions

By Karl Angelo N. Vidal, Reporter The peso weakened against the dollar on Thursday, March 22, as the market expects the Bangko Sentral ng Pilipinas (BSP) to keep its policy rates steady. The local currency ended Thursday’s session at P52.20 against the greenback, five centavos lower than the P52.15-per-dollar finish on Wednesday. The peso opened […] The post Peso weakens after BSP, Fed rates decisions appeared first on BusinessWorld......»»

Category: financeSource:  bworldonlineRelated NewsMar 22nd, 2018

SMC planning to further trim foreign obligations

By Krista A. M. Montealegre, National Correspondent SAN MIGUEL Corp. (SMC) plans to further trim down its dollar-denominated debt, as the peso weakens and interest rates go up. SMC Head of Treasury Eduardo Sergio G. Edeza told reporters on Monday the diversified conglomerate has reduced the share of foreign obligations to “less than 30%” of total […] The post SMC planning to further trim foreign obligations appeared first on BusinessWorld......»»

Category: financeSource:  bworldonlineRelated NewsMar 19th, 2018

Draghi’s predictability pledge raises need for clarity on rate moves

MARIO DRAGHI’S promise to avoid surprising investors as the European Central Bank (ECB) heads for the stimulus exit will require him to be clearer on an old-fashioned policy tool that hasn’t been touched in two years: interest rates. The ECB president opened a conference in Frankfurt on Wednesday by saying policy adjustments will be “predictable, […] The post Draghi’s predictability pledge raises need for clarity on rate moves appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsMar 16th, 2018

Metro Manila water rates to drop on April 1

Water rates in areas covered by Metro Manila’s two water concessionaires will be cut starting on April 1 after the state agency on water and sewerage services approved the adjustment to reflect the slight appreciation of the peso against the US dollar. “There’s going to be a rollback in the prices of water for the […] The post Metro Manila water rates to drop on April 1 appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsMar 13th, 2018

Bangko Sentral ng Pilipinas notes uptick in peso rediscount facility availment

MANILA, Philippines — Loans availed by local banks under the peso rediscount facility reached P5.81 billion in the first two months of the year, the Bangko S.....»»

Category: financeSource:  philstarRelated NewsMar 13th, 2018

Rediscount borrowings surge in Feb.

PHILIPPINE BANKS resumed availing of rediscount loans from the Bangko Sentral ng Pilipinas (BSP) in February after it stood untapped the previous month, the central bank reported yesterday. Peso rediscount loans stood at P5.81 billion as of February, after lenders did not avail of the loans in January. This is also larger than the P447 […] The post Rediscount borrowings surge in Feb. appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsMar 12th, 2018

Bangko Sentral okays peso-yuan spot market

Chinese tourists who travel to the Philippines will soon be able to change their renminbi into pesos at better exchange rates, while Filipino businessmen with dealings in the world's second-largest economy will soon be able to convert their pesos into yuan without having to rely on the US dollar as an intermediate peg. This will be made possible after local banks---led by the subsidiary of Bank of China---were given the green light by the central bank to develop a formal peso-renminbi spot market that will make foreign exchange transactions between both countries more efficient and cheaper. In an interview with the Inquirer, Bangko Sentral ng Pilipinas Governor Nestor Espenilla Jr....Keep on reading: Bangko Sentral okays peso-yuan spot market.....»»

Category: newsSource:  inquirerRelated NewsMar 8th, 2018