Rediscount borrowings reach P9.41B in August

BANKS SCRAMBLED to get hold of rediscount loans from the Bangko Sentral ng Pilipinas (BSP) in August to hit nearly P10 billion at a time of rising interest rates.

Fed’s Rosengren wants two more hikes as economy grows

ONE MORE interest rate hike in 2018 won’t satisfy Eric Rosengren’s definition of gradual. In an interview, the president of the Federal Reserve Bank of Boston made clear that, barring an unexpected turn for the US economy, he’ll push for two more increases before year’s end.

Peso weakens to fresh trough on positive US data, trade tensions

THE PESO slumped to a fresh 12-year low against the dollar on Monday due to upbeat labor data in the United States and concerns on the escalating trade spat between Washington and Beijing.

Rates of T-bills, bonds to go up on rate bets

GOVERNMENT securities on offer this week will likely fetch higher rates as investors await another rate hike from the central bank following the faster-than-expected August inflation print.

Outlook for rural banks positive

RURAL BANKS remain strong and profitable this year despite the closure of several players, the Bangko Sentral ng Pilipinas (BSP) said, with lenders actively looking to tap digital solutions to expand their operations.

Peso to move sideways amid ongoing trade tensions

THE PESO will likely move sideways against the dollar this week as investors look at the continuous trade tensions abroad amid strong labor data in the United States.

BSP to set up CSF in Dinagat Islands

THE BANGKO SENTRAL ng Pilipinas (BSP) will open a new credit facility in Dinagat Islands this week, which is expected to help small businesses gain access to bank financing.

Yields on government securities climb as inflation picks up to fresh peak in Aug.

GOVERNMENT securities’ (GS) yields rose across-the-board last week after the release of surprising August inflation print, which could bolster the case for another rate hike by the central bank in its upcoming policy meeting.

Smaller banks ask for more time to build up buffers for new liquidity rules

THE Chamber of Thrift Banks (CTB) urged the Bangko Sentral ng Pilipinas (BSP) to push back the implementation of new liquidity requirements by a year as smaller lenders need more time to build up their capital, a top official said.

DBP books higher net income in first semester

THE Development Bank of the Philippines (DBP) saw its net income rise in the first half of the year supported by its robust lending and deposit businesses.

Peso recovers on hawkish BSP

THE PESO rebounded slightly versus the dollar on Friday, even as it almost hit the P54 level intraday, following the local central bank’s hint of another rate hike this month.

PHL economy seen to withstand further tightening

THE ECONOMY can withstand further policy tightening from the Bangko Sentral ng Pilipinas (BSP), even as it fired off its strongest response in a decade last month, according to the minutes of the Monetary Board meeting.