MANILA, Philippines — The reversal of the continued drop in loan disbursements by big banks hinges on faster recovery from the pandemic-induced recession and the rollout of COVID-19 vaccines, according to Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno. Diokno said lending by universal and commercial banks remained weak due to bank risk aversion and […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) is widely expected to keep rates steady at Thursday’s monetary policy meeting, but would likely resume its easing cycle by September, an international think tank said. In its weekly outlook, London-based Capital Economics expressed certainty that interest rates would remain unchanged during the central bank’s policy […]
Read MoreMANILA, Philippines — Economists expect the Bangko Sentral ng Pilipinas (BSP) to maintain its accommodative policy stance by keeping key interest rates on hold to help the economy fully recover from the pandemic-induced recession. ING Bank senior economist Nicholas Mapa said the BSP may decide to maintain its key interest rate after BSP Governor Benjamin […]
Read MoreThe country’s monetary authorities have greenlighted the open finance framework rules, which are viewed as a critical enabler for digital transformation and financial inclusion. “The open finance framework recognizes that advances in technology will facilitate the development of bespoke products and services for every Filipino using their own consumer data,” the Bangko Sentral ng Pilipinas […]
Read MoreMANILA, Philippines — The Philippines slipped seven notches in the global competitiveness ranking, the sharpest drop in Asia-Pacific and its poorest performance over the last five years, as the country’s mediocre pandemic response led to an economic deterioration, the worst in several decades. Based on the World Competitiveness Ranking 2021 of Switzerland-based Institute for Management […]
Read MoreMANILA, Philippines — Businesses all over the globe are turning more optimistic as the world recovers from the impact of the pandemic, with downside risks becoming less and less, an international think tank said. Based on the June round of the Global Risk Survey of UK-based Oxford Economics, business sentiment has significantly improved and a […]
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