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The Fed s meeting notes: Lack of further progress on inflation
The US Federal Reserve (the Fed) [link] released the minutes of the meetings held by the Federal Open Markets Committee (FOMC), the body charged with making the decision on interest rates, and a reading of the minutes revealed concern by officials that “recent monthly data had showed significant increases in components of both goods and services price inflation”, and that “in recent months there had been a lack of further progress toward the Committee’s 2 percent objective.”.....»»
Across China: Flamenco performance wins hearts of Shanghai audience
SHANGHAI, May 22 (Xinhua) -- A Spanish Flamenco adaptation of "Carmen," an 1845 French novella by Prosper Merrimee, was staged at the AIA Grand Theatre in Shanghai on Tuesday night. The one-time performance was produced by the Antonio Gades Company, a renowned dance group that has been a pillar of Flamenco in Spain since its establishment. The show was well-received by its audience, who showed great interest and.....»»
BSP yet to finalize credit card cap review
The Bangko Sentral ng Pilipinas has yet to finalize its decision on whether to keep, raise or lower the current three percent interest rate cap on credit card transactions, a top BSP official said......»»
Tighter-than-necessary rate environment on BSP’s radar
The Bangko Sentral ng Pilipinas (BSP) is beginning to see a tighter-than-necessary monetary policy environment, which may call the need to lower interest rates in the second half even if it cuts ahead of the US Federal Reserve......»»
BSP may cut big banks’ RRR to 5 percent
The Bangko Sentral ng Pilipinas (BSP) is looking at a significant reduction in the level of deposits banks are required to keep with the central bank after it starts cutting interest rates this year, its top official said......»»
BSP keeps interest rates steady
The Bangko Sentral ng Pilipinas said yesterday that its Monetary Board decided to keep rates steady. In doing so, the BSP said that inflationary risks “continue to lean toward the upside”, but that its latest forecasts showed that “inflation would settle close to the upper-end of the target range.”.....»»
BSP keeps rates on hold as expected
The Bangko Sentral ng Pilipinas hit the pause button for the fifth straight policy meeting as it kept the benchmark interest rates steady yesterday, but it may start cutting borrowing costs as early as August if a sustained downtrend in inflation becomes fully evident......»»
Positive foreign, local news buoy stocks
The stock market bounced back on positive cues abroad coupled with expectations on earlier interest rate cuts......»»
BSP’s monetary board retains policy rate at 6.5%
This has been the fifth time the MB kept the interest rate since its off-cycle policy rate hike in October 2023 to mitigate supply-side inflation pressures......»»
The week ahead
While we had the OceanaGold PH IPO yesterday, the biggest waves will be made on Thursday when the Bangko Sentral ng Pilipinas meets to evaluate our interest rate situation......»»
Banks reap P92 billion profit in 3 months
Philippine banks turned more profitable in the first quarter, reaping almost three percent higher earnings to P92 billion due to higher net interest income. .....»»
Landbank income improves by 11 percent in Q1
The net income of state-run Land Bank of the Philippines increased by 11 percent to P12 billion in the first quarter from P10.8 billion in the same quarter last year, mainly driven by high interest income from loans......»»
Citi sees shallow rate cuts in 2024, 2025
Global banking giant Citi is now expecting smaller interest rate cuts from the Bangko Sentral ng Pilipinas in the next two years due to a more cautious stance on inflation risks......»»
House backs Comelec plan to ban substitution by withdrawal
Administration lawmakers have expressed support for the plan of the Commission on Elections to prohibit candidates from taking advantage of substitution by means of withdrawal of their certificate of candidacy and advancing their personal interest......»»
First rate cut likely 25 basis points - The Manila Times
MONETARY authorities will cut key interest rates by 25 basis points (bps) once inflation settles around the midpoint of the target range, the chief of the Bangko Sentral ng Pilipinas (BSP) said. "Right now, if we ease, it will just be 25 basis points. But we'll see," central bank Governor Eli Remolona Jr. told reporters on Monday. "Anything more than 25 [bps], it's like there's a recession alrea.....»»
A drought and famine for solutions
For several decades now, I have had an interest in solar power for residential and recreational applications......»»
PHLPost to bring Guinness pope stamps on roadshow
he Philippine Postal Corp. (PHLPost) is planning to bring the Guinness World Records’ largest collection of Pope Stamp Exhibit to the Visayas and Mindanao to spur interest in philately......»»
More banks keen on green financing – BSP
More banks in the Philippines have expressed interest to finance green and sustainable projects in the country amid the need to fund efforts that would mitigate impacts of climate change......»»
Explainer: Serious illegal detention for ransom, what is it?
CEBU CITY, Philippines – In a ruling on Thursday, May 2, 2024, the Taguig City Regional Trial Court (RTC) delivered a verdict that stirred the nation’s interest in the 10-year legal case involving a prominent celebrity. Businessman Cedric Lee, model Deniece Cornejo, Ferdinand Guerrero, and Simeon Palma Raz were found guilty beyond reasonable doubt of.....»»
POIs identified in Panabo blast
THE Police Regional Office-Davao Region (PRO-Davao) confirmed on Thursday, May 2, 2024, that the Panabo City Police Station has identified possible persons of interest (POIs) in last week’s explosion in Panabo City, Davao del Norte, on Wednesday night, April 24......»»