MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) is not ruling out the possibility that inflation breached eight percent in November as price shocks, including the impact of Severe Tropical Storm Paeng, continued to feed second round effects. BSP Governor Felipe Medalla told reporters on the sidelines of the 2022 Outstanding Stakeholders Appreciation Ceremonies […]
Read MoreMANILA, Philippines — More foreign companies are likely to enter the insurance business in the Philippines as the final tranche of the increase in capital requirement – a move that would impact small local firms – nears implementation. The Philippine Insurers and Reinsurers Association (PIRA), the umbrella organization representing the collective interests of the non-life […]
Read MoreMANILA, Philippines — The country has imported 3.37 million metric tons (MT) of rice in November, 34.14 percent more than the 2.51 million MT brought in in the same period last year. Latest data from the Bureau of Plant Industry (BPI) showed that the figure is 21.43 percent higher than the 2.77 million MT that […]
Read MoreMANILA, Philippines — Credit growth continued to pick up further to hit its fastest pace in almost four years in October amid the country’s stronger-than-expected economic expansion, according to the Bangko Sentral ng Pilipinas. BSP Governor Felipe Medalla said that loans disbursed by universal and commercial banks grew by 13.9 percent in October, faster than […]
Read MoreMANILA, Philippines — Higher power rates and costlier farm products due to weather disturbances likely added more fuel to inflation in November, putting more strain on Filipinos’ budgets. In a statement on Wednesday, the Bangko Sentral ng Pilipinas said it projects inflation to settle between 7.4-8.2% this month. If the upper-limit of the forecast range […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) has raised the bar for consumer protection in line with its broader efforts to promote the welfare of financial consumers. BSP Governor Felipe Medalla has issued Circular 1160 to implement Republic Act 11765 or the Financial Products and Services Consumer Protection Act (FCPA). “The circular is […]
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