Peso to strengthen as BSP halts easing cycle
THE PESO is seen to climb this week on the back of local economic data coming up and signals of a pause in monetary easing from the central bank.
BSP orders closure of two rural banks
THE BANGKO SENTRAL ng Pilipinas (BSP) ordered the closure of Batangas-based Maximum Savings Bank., Inc., mandating the Philippine Deposit Insurance Corp. (PDIC) to take over the rural bank.
There’s room for another BSP rate cut in 2020: MUFG
THE Philippine central bank might further cut benchmark interest rates next year as the economy continues to pick up amid global conditions, according to Leong Sook Mei, Association of Southeast Asian Nations head of Global Markets Research at MItsubishi UFJ Financial Corp.
Peso barely moves as market waited for US-China deal
THE peso slightly weakened against the dollar on Friday as markets waited for details of a trade tariff deal between the US and China.
Central bank shuts down another rural bank
THE Philippine central bank has ordered for the closure of AMA Rural Bank of Mandaluyong, Inc. and ordered the Philippine Deposit Insurance Corp. (PDIC) to take over its liquidation.
PSBank Q3 net income jumps 20% on fees
PHILIPPINE Savings Bank (PS Bank) posted a 20% increase in profits to P813 million in the third quarter from a year earlier, boosted by interest and fee-based income, according to a stock exchange filing on Friday.
SSS wants to cover more informal sector workers
THE state-run Social Security System (SSS) wants to include workers in the informal sector in its pension coverage as part of a plan to improve the system.
Islamic banking rules to be OK’d this month
THE central bank is likely to approve this month the rules that will enforce Islamic banking in the Philippines, which is expected to attract more local and foreign banks, Bangko Sentral ng Pilipinas (BSP) Managing Director Arifa Ala said on Friday.
Reserves hit $85.7B at end-Oct.
GROSS INTERNATIONAL reserves (GIR) — which shield the country from liquidity shocks — strengthened further at end-October, the Bangko Sentral ng Pilipinas (BSP) said on Thursday.
Reluctant PBoC seen limiting support for bond mart
WHILE Tuesday’s move by the People’s Bank of China (PBoC) to trim a benchmark for bank funding costs has helped halt a slide in the country’s bonds, market participants see little scope for more robust moves by the central bank that could offer further support.
Easing slowdown seen pushing yields up
THIS YEAR’S flood of monetary easing is slowing to a trickle as the world’s central banks judge they’ve done enough to avoid a recession, giving investors cause to think sovereign bond yields have finally bottomed.
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.