Liquidity, lending growth pick up
MONEY SUPPLY growth quickened in January following the central bank’s easing stance in the previous year.
Term deposit yields drop
YIELDS ON THE central bank’s term deposit facility (TDF) continued to go down despite lower bids on hints of possible easing from the central bank to cushion the economy against risks from the continued spread of the coronavirus disease 2019 (COVID-19).
Fed cuts rates to blunt impact of coronavirus; markets drop
WASHINGTON — The US Federal Reserve cut interest rates on Tuesday in a bid to shield the world’s largest economy from the impact of the coronavirus, but the emergency move failed to comfort US financial markets roiled by worries about a deeper, lasting slowdown.
China’s central bank keeps borrowing costs steady
SHANGHAI — China’s central bank kept short-term borrowing costs steady on Wednesday, shrugging off the US Federal Reserve’s emergency policy rate cut overnight.
Cryptocurrency bourses win case against RBI ban
CRYPTOCURRENCY exchanges scored a victory in India after the nation’s Supreme Court endorsed their stand against curbs put in place by the central bank that effectively outlawed virtual currencies in Asia’s third-largest economy.
British banks likely to have new CEOs
AN UNPRECEDENTED WAVE of boardroom change is stirring up British banking. At least three of the biggest UK lenders may replace their leaders by the end of the year — if not sooner. London-based bank chiefs are struggling against the same headwinds as their European counterparts: subpar growth, low interest rates and increasingly impatient chairmen and activist investors.
Peso surges as Fed cuts rates amid COVID-19 fears
THE PESO surged against the dollar on Wednesday after the surprise rate cut from the US Federal Reserve and dovish signals from the Bangko Sentral ng Pilipinas (BSP).
Digital Payments Paving the Way for a Cashless Future
The financial technology (FinTech) sector has grown by leaps and bounds in recent years, owing to the Philippines’ vibrant startup community and strong economic...
Gov’t fully awards bonds, opens tap facility on strong demand
THE GOVERNMENT made a full award of the Treasury bonds (T-bonds) it offered on Tuesday and even opened its tap facility following huge demand from investors amid the continued concerns on the coronavirus disease 2019 (COVID-19) outbreak.
CIMB Bank Philippines looking to double customer base this year
CIMB BANK Philippines is eyeing to double its customer base this year as it continues its platform banking model which relies on partnerships with “digitally savvy” players in the field.
PSBank income up 13.8% in 2019
PHILIPPINE SAVINGS Bank’s (PSBank) net profit jumped in 2019 supported by higher operating income and core net interest margin.
Top central banks appear primed to act to combat coronavirus risk
TOKYO/FRANKFURT/WASHINGTON — The world’s top three central banks look set to take steps to limit the economic damage from the fast-spreading coronavirus, with the heads of the European Central Bank (ECB) and Bank of Japan (BoJ) issuing emergency statements on Monday that echoed one from US Federal Reserve Chair Jerome Powell late last week.