Affirmative action
By Benel D. Lagua
THE magazine The Economist recently conducted a debate series on “affirmative action.” Readers will find lessons from the debate considering the many policy choices being made in the Philippines today. The concerns on both sides of the issue “should affirmative action be scrapped?” are instructive and can be put to good use.
Peso rebounds ahead of BSP meet, US-China talks
THE PESO recovered against the dollar on Thursday as investors await a possible emergency meeting of the local central bank last night and amid the trade talk offer of the United States to China.
Yields on BSP’s term deposits climb as demand drops further
TERM DEPOSITS saw tepid demand yesterday to mark a second straight week of settling below offer, while yields maintained their ascent across all tenors.
Bank of Makati’s loan growth surpasses 20% target
BANK OF MAKATI (A Savings Bank), Inc. (BMI) has exceeded its target loan growth for the year driven by strong demand for motorcycle loans.
Online, interbank fund transfers mandatory by end-Nov.
ALL BANKS and other financial firms should be offering online fund transfer services by end-November, as the Bangko Sentral ng Pilipinas (BSP) flexes its muscle for more players to broaden their digital presence.
Peso sinks to P54:$1 on trade spat
THE PESO weakened to a new 12-year low against the dollar on Wednesday, breaching the P54 level due to corporate demand and amid continued trade tensions between the United States and China.
Gov’t rejects all bids for T-bonds as investors ask for higher yields
THE GOVERNMENT rejected all bids for the reissued 10-year Treasury bonds (T-bond) it offered yesterday as investors demanded higher rates amid market expectations of another rate hike from the local central bank.
Global banks expect more BSP rate hikes until 2019
THE BANGKO SENTRAL ng Pilipinas (BSP) may opt to raise rates several times until 2019 to make local yields competitive, two global banks said, noting that such moves would also boost the peso and help arrest surging inflation.
China bond traders boost leverage
CHINESE bond traders ramped up their leverage to a record high in August, and that could be catching the central bank’s attention.
Peso nears P54:$1 level on trade tensions, data
THE PESO weakened against the dollar on Tuesday as it inched closer to the P54 level amid continued cautiousness over trade tensions abroad fuelled by a wider local trade deficit in July.
Gov’t makes partial award of T-bills as rates rise
THE GOVERNMENT made a partial award of the Treasury bills (T-bill) on offer yesterday, even with yields climbing across all tenors as investors await the possible rate hike by the local central bank following the faster-than-expected August inflation print.
RCBC offers first tranche of P20-B LTNCD program
RIZAL COMMERCIAL Banking Corp. (RCBC) has started its offer the first tranche of its P20-billion long-term negotiable certificates of deposit (LTNCD) program to raise funds.