[MANILA] The Philippine central bank kept interest rates at record lows on Thursday, looking past increasing inflation pressures to support an economy struggling with the fallout of recent Covid-19 curbs. The Bangko Sentral ng Pilipinas (BSP) kept the rate on the overnight reverse repurchase facility at 2.0 per cent for the seventh straight policy meeting, […]
Read MoreMANILA, Philippines — The multi-billion dollar debt mess of embattled property developer Evergrande that is threatening to upend China’s economy will unlikely have a significant impact on the Philippines’ financial system, the central bank and economists said. In a statement on Wednesday, Bangko Sentral ng Pilipinas Governor Benjamin Diokno said the Philippines is insulated from shocks […]
Read MoreMANILA, Philippines — The Philippines is expected to further boost its rice imports next year to 2.2 million metric tons (MT) mainly due to improving economic conditions, according to the United States Department of Agriculture (USDA). In its latest grain and feed update, the USDA’s Foreign Agricultural Service (FAS) said it is revising upward its […]
Read MoreMANILA, Philippines — The yield for the P35-billion reissued Treasury bonds went up in yesterday’s auction as investors demanded higher rates due to risks posed by the anticipated inflationary spike for the rest of the year. The Bureau of the Treasury awarded in full the programmed P35 billion in reissued seven-year T-bonds with a remaining […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) has imposed stricter governance standards for operators of payment system (OPS), which play a vital role in sustaining the safe and efficient flow of payments in the country, including those arising from critical financial market transactions. BSP Governor Benjamin Diokno said the Monetary Board issued Resolution […]
Read MoreMANILA, Philippines — The Philippines is pursuing a stronger and more resilient post-COVID economy and not just to simply regain the losses caused by the pandemic, according to the Bangko Sentral ng Pilipinas (BSP). In a virtual event organized by London-based think tank Official Monetary and Financial Institutions Forum, BSP Governor Benjamin Diokno said the […]
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