Peso climbs vs dollar on BSP rate hike bets
THE PESO strengthened against the dollar on Thursday as faster April inflation raised bets that the local central bank would hike borrowing costs earlier than planned and after the widely expected 50-basis-point hike from the US Federal Reserve.
Fed lifts rates by half point, starts balance sheet reduction June 1
WASHINGTON - The Federal Reserve on Wednesday raised its benchmark overnight interest rate by half a percentage point, the biggest jump in 22 years,...
Term deposit yields up as market awaits Fed hike
YIELDS on the term deposits of the Bangko Sentral ng Pilipinas (BSP) went up on Wednesday, with market players positioning ahead of an expected hike from the US Federal Reserve and the national elections.
Gov’t fully awards bonds
THE GOVERNMENT fully awarded the reissued Treasury bonds (T-bonds) it offered on Wednesday as investors were defensive ahead of the release of April inflation data and the US Federal Reserve’s latest policy decision.
Islamic banking development seen to help boost investments in Mindanao
INITIATIVES to develop the country’s Islamic banking industry will help open investment opportunities in Mindanao and, in turn, bring down poverty in the region.
BSP grants EMI license to Peppermint Innovation
THE BANGKO SENTRAL ng Pilipinas (BSP) granted Australia-based Peppermint Innovation Ltd. the authority to operate as an electronic money issuer (EMI) in the country.
Peso down ahead of Fed decision, rising oil prices
THE PESO weakened versus the greenback on Wednesday as the market was cautious ahead of the policy decision of the US Federal Reserve and with global oil prices increasing amid the European Union’s plan to phase out fuel imports from Russia.
Lenders oppose BSP’s proposed credit quota for innovation dev’t
THE CENTRAL BANK’S proposal to impose a lending quota for the development of new technologies and innovations for various services will affect smaller lenders negatively as these do not match their market, according to the Rural Bankers Association of the Philippines (RBAP).
Apple hit with EU antitrust charge over mobile payments technology
BRUSSELS — Apple faces a possible hefty fine and may have to open its mobile payment system to competitors after European Union (EU) antitrust regulators charged the iPhone maker with restricting rivals’ access to its technology used for mobile wallets.
Bank deposits hit P16.2 trillion in 2021
TOTAL DEPOSITS with Philippine banks reached P16.2 trillion last year, reflecting the gradual recovery of the economy from the impact of the coronavirus pandemic.
Korea’s fastest inflation since 2008 raises rate pressure
SOUTH KOREA’S inflation accelerated to the fastest pace since 2008 in April, prompting the central bank to issue a statement as pressure intensifies for it to raise interest rates further at this month’s policy meeting.
Gov’t partially awards T-bills at higher yields
THE GOVERNMENT partially awarded the T-bills it auctioned off on Monday at higher rates on expectations of a higher April inflation, which could give the central bank an impetus to hike borrowing costs earlier than planned.