MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) is finalizing a framework for a safe and efficient payment system, ensuring settlement of time-critical financial transactions. In a draft circular, the regulator said the payment system is indispensable to the smooth functioning of financial markets as well as to maintaining monetary and price stability. The […]
Read MoreMANILA, Philippines — Moody’s Investors Service slashed anew the gross domestic product (GDP) growth forecast for the Philippines to 5.4 percent this year due to the impact of the coronavirus disease 2019 or COVID-19. This is the second time in less than a month that the debt watcher lowered the GDP growth target for the […]
Read MoreMANILA, Philippines — Growth in the wholesale prices of building materials in the National Capital Region (NCR) slowed down in February, snapping a brief uptick in January, the Philippine Statistics Authority (PSA) reported. Preliminary results of the Construction Materials Wholesale Price Index (CMWPI), which is used as a reference in the costing of government projects, […]
Read MoreMANILA: The Philippine stock exchange chief said he plans to reopen the $188 billion market on Thursday, signaling a quick resumption of trading after the country became the first to shut financial markets in response to the widening coronavirus pandemic. The controversial move to halt trading came amid mounting speculation that other countries may take […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) is seen cutting interest rates by 50 basis points or more on Thursday to cushion the impact of the coronavirus disease 2019 or COVID-19 on the economy. BSP Governor Benjamin Diokno said in a television interview that monetary authorities have enough space as the Monetary Board […]
Read MoreMANILA, Philippines — The peso shed 47 centavos yesterday to close at a five-month low of 51.5 to $1 from Friday’s 51.03 as the coronavirus disease 2019 or COVID-19 continued to wreak havoc on financial markets around the world. Bangko Sentral ng Pilipinas Governor Benjamin Diokno brushed aside the weakening of the peso, saying the […]
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