MANILA, Philippines — Banks are seen extending free digital cash transfers after the Bangko Sentral ng Pilipinas (BSP) waived for the fifth time the fees of fund transactions until the end of next year amid a change in consumer behavior due to the global health pandemic. For one, China Banking Corp. extended the waiver of […]
Read MoreMANILA, Philippines — The national government incurred a budget shortfall past the P1-trillion mark in the 11 months to November amid slower revenue generation and higher spending due to COVID-19 response programs, the Bureau of the Treasury (BTr) said yesterday. Latest data from the BTr showed the national government’s fiscal deficit from January to November […]
Read MoreResidential real estate prices in the country slipped by 0.4 percent year-on-year in July to September, while it contracted 14.1-percent quarter-on-quarter, data from Bangko Sentral ng Pilipinas (BSP) showed. BSP on Wednesday said the negative year-on-year growth of the Residential Real Estate Price Index (RREPI) in the third quarter is its first since beginning the […]
Read MoreMANILA, Philippines — Christmas pushed home-stay Filipinos out of their homes to go shopping, giving the consumer-driven economy a shot in the arm and keeping a last hurrah from pandemic weakness very much alive. This is good news for economic officials banking on the typical spending splurge during the yuletide to restart an economy set […]
Read MoreMANILA, Philippines — Filipino consumers still reeling from pandemic-induced joblessness are set to be pounced by higher taxes and premium contributions to social services next year. While most tax increases are levied on alcohol and tobacco, products which government wants people to avoid for better health, private sector workers are also set for smaller take-home […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas may keep a low interest rate environment until end-2022 to help the country fully recover from the impact of the pandemic, BSP Governor Benjamin Diokno said. In an interview with Bloomberg Television, Diokno said the BSP still has some monetary space available despite cutting the benchmark rate […]
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