Fed is data-dependent from here, NY Federal Reserve’s Williams says
NEW YORK — New York Federal Reserve President John Williams said Wednesday any changes in interest rates from here will depend on the incoming economic data but policy makers should be preemptive in taking steps to keep the expansion alive.
Peso strengthens on GDP data
THE PESO strengthened against the dollar on Wednesday on the back of the rebound in economic growth as well as the growth in gross international reserves (GIR).
Yields on term deposits slip on RRR cut
YIELDS on the central bank’s term deposits slipped on Wednesday as inflation eased in October and following increased liquidity due to the reserve requirement ratio (RRR) cut that took effect this month.
RCBC income up 41% at end-Sept.
RIZAL COMMERCIAL Banking Corp. (RCBC) saw its net income surge in the first nine months of the year driven by growth in its core business.
Citigroup looks to expand branches
CITIGROUP INC. might be getting in on the branch expansion game.
BoJ debated feasibility of more easing in September
TOKYO — Bank of Japan (BoJ) board members debated the feasibility of ramping up stimulus at their September rate review, with some calling for the need to start brainstorming ideas to top up monetary support, minutes of the meeting showed on Wednesday.
TransferWise links up with Philippine e-wallets
HONG KONG — Money transfer company TransferWise has begun processing international payments into Asian digital wallets in a move that its CEO says reflects their growing use as an alternative bank account.
Hong Kong watchdog to publish new crypto exchange regulations
HONG KONG — Hong Kong’s financial regulator will publish a framework for cryptocurrency exchanges later on Wednesday, Chief Executive Ashley Alder told a fintech conference in the city.
Alipay, WeChat Pay open apps to foreigners in China
CHINESE PAYMENTS giants Alipay and WeChat Pay, long a source of worry among competitors abroad, plan to open up their platforms to foreigners visiting the mainland as regulators ease restrictions.
Thailand cuts interest rate to record low to rein in baht
THE BANK OF Thailand cut its benchmark interest rate for the second time in three months and said it will ease rules on outflows to curb a surging currency.
Money market gets boost from BSP easing
THE MONEY MARKET has been seeing the effects of the monetary easing of the Bangko Sentral ng Pilipinas (BSP), according to the Money Market Association of the Philippines (MART).
Peso weakens against the dollar on US non-manufacturing data
THE PESO weakened against the dollar on Wednesday following its rally amid better-than-expected US data reported late Tuesday.