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CASH remittances slipped to a two-month low in June due to smaller flows from the Middle East, the Bangko Sentral ng Pilipinas (BSP) reported on Tuesday.
INFLATION should peak in the next two months before slowing closer to target, the country’s central bank chief said, noting that tax-related price pressures have been “tapering off.”
THE HONG KONG and Shanghai Banking Corp. (HSBC) is looking to roll out more mobile services to corporate clients in the Philippines over the coming year, following a jump in its credit card business secured through digital platforms.
THE RECENT SURGE in foreign direct investments (FDI) should help fuel merchandise export growth “two or three years from now,” providing added impetus for overall economic expansion to pick up, the chief of the Bangko Sentral ng Pilipinas (BSP) said.
THE CENTRAL BANK has ordered another provincial bank to shut down its operations, marking the eighth lender to fold this year.
PHILIPPINE BANKS will continue to outperform their Asian peers given wider interest margins, with a more aggressive rate hike from the Bangko Sentral ng Pilipinas (BSP) to give lenders another boost.
THE GOVERNMENT will soon proceed with its planned sale of yen-denominated bonds as it seeks to avail of favorable rates amid strong demand before the Aug. 11-Sept. 9 “ghost month” is well under way, a senior official who asked not to be identified told reporters on Tuesday.
SHIFTING government fund releases to digital channels will give a substantial boost to electronic payments, the central bank chief said, but flagged that connectivity issues remain a barrier to adoption.
THE BANGKO SENTRAL ng Pilipinas (BSP) is looking into the possibility of issuing digital currencies at a time of increasing use, although industry experts cautioned that doing so could disrupt monetary policy operations.
THE CENTRAL BANK may find room to raise rates by just 25 basis points (bp) this week, a bank analyst said, provided it comes with a hawkish statement from policy makers in order to temper further price pressures.
THE BANGKO SENTRAL ng Pilipinas (BSP) will most likely raise benchmark interest rates anew this week as inflation can be expected to have spiked further in July, analysts said in a BusinessWorld poll, with some noting there is room for a 50-basis-point (bp) hike to ease price pressures.
BANKS handed out more real estate loans as of March, although growth eased from a year ago as the central bank tightened its watch on the sector.
INFLATION likely rose to 5.6% in July led by higher electricity rates and rice prices plus higher taxes on cigarettes, Nomura said, noting that the extent of the indicator’s rise would merit a stronger response from the Bangko Sentral ng Pilipinas (BSP).
ADDITIONAL rate hikes from the central bank will temper exchange rate movements and outbound capital flows, Moody’s Investors Service said, against a backdrop of a resilient and fast-growing economy.
DEMAND for term deposits shifted towards shorter tenors yesterday, driving yields slightly lower ahead of monetary policy decisions in the United States and in the Philippines.
REGULATORS should adopt a clear but adaptive set of rules on the use of blockchain, industry experts said, with the Philippines currently well-positioned to be a global leader in adopting the new technology.
GOVERNMENT SECURITIES on offer this week will likely fetch higher rates, with the Bureau of the Treasury (BTr) expected to reject all bids for the 20-year papers, as investors continue to wait for the local central bank to raise interest rates anew.
THE BANGKO SENTRAL ng Pilipinas (BSP) will require financial firms to use a standard design for quick response (QR) codes to allow simpler transactions across service providers.