MANILA, Philippines —The Bangko Sentral ng Pilipinas (BSP) may raise its interest rates gradually by 25 basis points until the benchmark rate hits four percent in the first quarter of 2023 to anchor inflation expectations, according to ANZ Research. In a report, ANZ said it expects back-to-back rate hikes from the BSP as the evolution […]
Read MoreAs part of its service to clients, my bank sends me an SMS message by midmorning daily to inform me of the day’s exchange rate. I hardly gave it much attention until last Friday. The peso finally is at the P55 to $1 rate. I shouldn’t worry about it. I am not planning to travel […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) is no longer allowing banks and financial institutions to let clients sign waiver of rights, lengthen prescription period, and calls for protection of customer data, as the regulator further strengthens the protection of financial consumers. The regulator is finalizing the guidelines on financial consumer protection to […]
Read MoreTHE government’s budget balance returned to a deficit in May even as revenues continued to outpace expenditures, the Bureau of the Treasury reported on Thursday. The government had recorded a P4.9-billion surplus in April, which the Treasury then attributed to “faster year-on-year” revenue growth and a “marginal” increase in spending. The swing to a P146.8-billion deficit in May was […]
Read MoreAs expected, BSP delivers back-to-back hikes MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) yesterday delivered back-to-back rate hikes, raising key policy rates by 25 basis points, to fend off rising inflationary pressures. Outgoing BSP Governor Benjamin Diokno said the central bank’s Monetary Board decided to raise the overnight reverse repurchase rate to 2.50 […]
Read MoreMANILA, Philippines — The Philippines registered a 4.8 percent increase in meat imports in the first five months of the year, mainly driven by pork, data from the Bureau of Animal Industry (BAI) showed. Latest figures from the BAI showed that the country imported 460.9 million kilos of meat and meat products from January to […]
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