The central bank on Thursday said it was phasing out liquidity-enhancing measures as part of a continuing move to tighten monetary policy to control money in the financial system amid the recovering economy.
The policy-making Monetary Board cut its budget for short-term loans to banks under its rediscount facility by a third to P40 billion, even as it kept benchmark interest rates steady.
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MANILA – The Supreme Court (SC) has ruled that the lower and appellate courts have committed grave abuse of discretion in getting in the way of the Bangko Sentral ng Pilipinas (BSP) in the immediate closure of 13 rural banks under the now bankrupt Legacy Group.
In essence, the High Court has defined the powers and independence of the BSP from "unwarranted interference" of the courts.
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MANILA, Philippines – The country’s foreign exchange reserves nearly hit the $40 billion level as of end July 2009, boosted by proceeds from the government’s second global bond issue last month and income from the central bank’s investments abroad, the Bangko Sentral ng Pilipinas (BSP) announced yesterday.
The end-July dollar reserves level of $39.99 billion was higher by $496 million from the end-Jun
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MANILA, Philippines – The inflation rate slowed to 0.2 percent in July, the lowest level in 22 years, as price increases in key sectors such as food and beverages continued to ease.
The National Statistics Office (NSO) reported yesterday that the latest inflation figure was sharply lower than the 12.2-percent inflation rate posted for the same month last year when the country was reeling from the high price
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MANILA, Philippines – The Bangko Sentral ng Pilipinas (BSP) yesterday granted approval in principle for the proposed $1-billion global bonds issue by the government, paving the way for finance officials to finalize the terms of the cash-raising exercise.
The Monetary Board of the Bangko Sentral ng Pilipinas (BSP) approved the proposed issue in principle with the final approval pending the finalization of the te
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MANILA – Philippine consumer prices rose at their slowest pace in more than two decades in June, giving the central bank more leeway to cut its policy rate to a record low of 4.0 percent this week to spur economic growth.
According to the National Statistics Office (NSO), last month’s inflation figure was down from 3.3 percent in May and well below the 4.8 percent recorded in April.
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MANILA, Philippines – Bangko Sentral ng Pilipinas (BSP) Governor Amando M. Tetangco Jr. said the Philippines, as well as its Asian neighbors, should look more to their domestic demand and end dependence on exports.
Tetangco is attending a meeting of central bankers in Europe and said there is an emerging sentiment among economic planners that Asia’s dependence on exports has made it vulnerable to external cris
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MANILA, Philippines – The Bangko Sentral ng Pilipinas (BSP) said there is still room for banks to reduce their lending rates to encourage borrowing but the lacklustre economy would likely compel companies to use funds for capital build up rather than expansion.
BSP Governor Amando M. Tetangco Jr. said unclear prospects in 2009 would change the behavior of corporate borrowers, particularly with regards to th
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MANILA – Bank lending, particularly on the consumer side, has shown signs of weakening in recent weeks, prompting the head of the Bankers Association of the Philippines (BAP) to express fears that overall loan growth may slip into the single-digit level in the second quarter.
While banks are still keeping their lending windows open despite the economic downturn, many people seem reluctant to borrow at this
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MANILA – An increase in the government’s foreign borrowings will not have detrimental effects on the country’s inflation rate, the Bangko Sentral ng Pilipinas (BSP) said on Friday.
According to BSP Deputy Governor Diwa Guinigundo, the government’s plan to issue up to $1.5 billion worth of yen-dominated bonds overseas will not create the kind of foreign exchange inflow that would significantl
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Lovi Poe:
Lourdes Virginia Moran Poe, better known by her screen name Lovi Poe (born February 11, 1989 in Quezon City, Philippines), is an award-winning Filipina actr...
Enrique Razon Jr.:
Enrique K. Razon Jr. is currently the Chairman of the Board and President of International Container Terminal Services (ICTSI), the largest corporation in the...
