MANILA, Philippines — The Anti-Money Laundering Council (AMLC) is ramping up its campaign against money mules as the number and value of suspicious transactions rose sharply starting 2021 with the emergence of digital banking and electronic wallets. In a report on money mules released in December last year, the financial intelligence unit said it received […]
Read MoreMANILA, Philippines — Monetary authorities are ready to adjust policy stance as necessary after inflation blew past expectations to hit a fresh 14-year high of 8.7 percent in January, according to Bangko Sentral ng Pilipinas Governor Felipe Medalla. “The BSP will continue to adjust our policy stance as necessary to keep further second-round effects at […]
Read MoreMANILA, Philippines — Manila Electric Co. announced a rate cut for the February power bill, but a scheduled shutdown in a Malampaya natural gas facility could push up energy prices again. In a statement on Friday, the Pangilinan-led power distributor said it cut its overall rate by P0.0106 per kWh in February. The cut is […]
Read MoreThe benchmark interest rates of the Bangko Sentral ng Pilipinas (BSP) could rise by as much as 50 basis points (bp) or 0.5 percentage point (ppt) next week as the unexpected acceleration in inflation last month suggests that the rate of increase in prices of goods and services has not yet peaked. In a commentary, […]
Read MoreAfter above-target January print MANILA, Philippines — Economists raised their Philippine inflation forecasts this year after the price index blew past expectations to hit a fresh 14-year high of 8.7 percent in January. Aris Dacanay, economist for ASEAN at British banking giant HSBC, said he sees inflation averaging 5.7 percent this year, higher than their […]
Read MoreMANILA, Philippines — The Philippine economy may underperform this year as local and global headwinds persist, with the expected growth falling way below the government’s target, according to two top analysts. Albay Rep. Joey Salceda said the economy is likely to expand at a slower pace this year from last year, as inflation is expected […]
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