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BSP still has policy space — Diokno

THE manageable inflation environment continues to afford the central bank with policy space that can be used to respond to the pandemic, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said on Wednesday.

Lenders use nearly P45B in MSME loans as alternative reserve compliance

MORE than 100 banks have utilized their loans to small businesses and large enterprises as alternative reserve compliance during the pandemic, according to Bangko Sentral ng Pilipinas Governor Benjamin E. Diokno.

Inflation benign, reserve ratio cuts still on the table — Diokno

BANGKO SENTRAL ng Pilipinas (BSP) Governor Benjamin E. Diokno said monetary authorities continue to view the inflation environment as stable over the next three years, a key consideration in the decision to reduce rates last week.

Wirecard’s Philippine business partners under probe, FT says

Philippine regulators are investigating Wirecard AG’s local partner businesses which could establish the full extent of the country’s exposure to one of Europe’s worst accounting scandals, the Financial Times (FT) reports.

Economic recovery to start in 4th quarter, Diokno says

ECONOMIC RECOVERY is likely to start by the fourth quarter, with growth seen in key sectors such as agriculture and construction, Bangko Sentral ng Pilipinas Governor Benjamin E. Diokno said on Monday.

Wirecard’s $2.1B did not enter PHL — BSP

THE $2.1 billion missing from German payment company Wirecard AG did not enter the country’s financial system, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said on Sunday.

Diokno ‘confident’ no inflation risk from faster M3 growth

BANGKO Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said he is not worried about higher inflation arising from “significant” growth in liquidity in recent months.

Shuttered economy caused record-high unemployment — Diokno

THE record-high unemployment rate does not show the real picture of the economy and the job market, Bangko Sentral ng Pilipinas Governor Benjamin E. Diokno said.

Diokno: ‘A’ rating campaign to resume once recovery is on track

BANGKO SENTRAL ng Pilipinas (BSP) Governor Benjamin E. Diokno said the government’s campaign to secure a long-coveted “A” credit rating will resume only if a recovery is seen next year.

BSP chief Diokno says he’s happy where key rate is

PHILIPPINE CENTRAL BANK Governor Benjamin Diokno said the monetary easing implemented against the coronavirus was appropriate, and that further action will depend on the economic recovery.

Diokno says policy remains appropriate

THE CURRENT policy stance of the Bangko Sentral ng Pilipinas (BSP) will remain appropriate once the modified enhanced community quarantine (MECQ) is transitioned to a general community quarantine (GCQ), according to BSP Governor Benjamin E. Diokno.

Central bank may still ease policy amid coronavirus — Diokno

THE Philippine central bank can still use monetary tools including further policy easing to boost liquidity amid a coronavirus pandemic, its governor said on Friday.

Diokno backs health care, tech, agriculture reforms after pandemic

THE government needs to implement structural reforms in health care, technology and agriculture while upskilling the workforce to ensure recovery from the coronavirus disease 2019 (COVID-19) pandemic, Bangko Sentral ng Pilipinas Governor Benjamin E. Diokno said.

AMC law useful if banks encounter worst-case NPL scenario — Diokno

A BILL PROPOSING the transfer of banks’ bad loans to asset management companies (AMCs) will come in handy should the financial sector’s position deteriorate further, but for now non-performing loan (NPL) levels remain low, the central bank said.

Fintechs seen helping economy weather coronavirus pandemic

FINANCIAL TECHNOLOGY players (fintechs) need to step up amid the shift to a digital economy due to the coronavirus pandemic to boost services for small businesses which are among the most vulnerable to the crisis, said Bangko Sentral ng Pilipinas Governor Benjamin E. Diokno.

BSP chief sees no need to tap IMF facility amid crisis

THE PHILIPPINES does not need to tap International Monetary Fund’s (IMF) credit line for economies affected by the pandemic, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said, citing the country’s sound economic management which put it at a “position of strength” before the coronavirus disease 2019 (COVID-19) hit.

BSP trims smaller lenders’ liquidity ratio requirement

THE CENTRAL BANK has trimmed the minimum liquidity ratio (MLR) requirement of smaller lenders until the year’s end in a move to boost their...

Philippines’ 2020 growth may slow to 5%-5.5% — Diokno

PHILIPPINE central bank Governor Benjamin Diokno said the nation’s economic growth this year could slow to a range of 5% to 5.5% as the world faces the risk of a recession.

Diokno says banks have enough buffers vs risks

BANGKO SENTRAL ng Pilipinas (BSP) Governor Benjamin E. Diokno downplayed analysts’ expectations of a possible rise in nonperforming loans (NPLs) and slower credit growth due to the coronavirus disease 2019 (COVID-19) outbreak, saying local banks are “adequately capitalized” to withstand such risks.

BSP has space to ease monetary policy — Diokno

THE Bangko Sentral ng Pilipinas (BSP) has enough “monetary space” amid easing by central banks around the world, BSP Governor Benjamin E. Diokno said on Friday.

Diokno eyes around 50bps rate cuts in 2020

THE Bangko Sentral ng Pilipinas (BSP) may consider cutting rates by about 50 basis points (bps) in 2020, according to Governor Benjamin E. Diokno.

BSP sees lag in effects of monetary easing moves

IT MAY TAKE a while before the financial system fully feels the impact of the easing moves implemented by the central bank this year, according to Bangko Sentral ng Pilipinas Governor Benjamin E. Diokno, with its decision to hold steady to help it assess how the market is taking past cuts.

BSP rate cut expectations mount

STATEMENTS by Bangko Sentral ng Pilpinas (BSP) Governor Benjamin E. Diokno that another 25 basis point reduction in benchmark interest rates will be considered at the Monetary Board’s sixth policy review for the year on Sept. 26 — Thursday next week — has led private sector economists to expect more moves soon to unravel last year’s tightening.

BSP likely to cut policy rates this month

TARLAC — The central bank will cut benchmark interest rates as early as this month, with the regulator also studying when to implement further reductions to lenders’ reserve ratios.

BSP chief signals more policy tweaks ahead

Another cut in key policy rates as well as banks’ reserve requirement ratio (RRR) “can take place some time next month”, BSP Governor Benjamin E. Diokno said in an interview aired over ABS-CBN News Channel on Friday afternoon.

BSP releases banknotes with Diokno’s signature

THE Bangko Sentral ng Pilipinas (BSP) launched on Wednesday banknotes bearing the signature of central bank chief Benjamin E. Diokno.

BSP chief ‘cautiously optimistic’ on Philippine economy

BANGKO SENTRAL ng Pilipinas (BSP) Governor Benjamin E. Diokno is “cautiously optimistic about the current state of the Philippine economy,” amid lingering global headwinds.

Central bank chief signals more reserve ratio cuts

THE BANGKO SENTRAL ng Pilipinas (BSP) will consider reducing the reserve requirement ratio (RRR) for lenders further if banks don’t misbehave and speculate against the peso, Governor Benjamin E. Diokno said.

Central bank sees rate cut impetus from S&P rating upgrade

THE BANGKO SENTRAL ng Pilipinas (BSP) sees room to “move faster” in easing monetary policy following the sovereign debt rating upgrade last April from S&P Global Ratings, the central bank chief said in an ABS-CBN News Channel (ANC) interview, noting that the domestic economy likely grew “slightly higher” than six percent in the first quarter of the year.

Policy rate cut could come as soon as next month —...

A CUT in benchmark interest rates will be considered on May 9, when the Bangko Sentral ng Pilipinas (BSP) Monetary Board (MB) holds its third policy review for this year, the central bank chief said in an interview with Bloomberg Television, even as he cited risks that could force monetary authorities to again hold off such move.

BSP likely to cut rates by May

THE Bangko Sentral ng Pilipinas (BSP) will likely reduce key interest rates by May, noting that policy makers are likely growing more confident after inflation forecasts were slashed anew on Thursday.

BSP chief sees room for monetary policy easing

By Melissa Luz T. Lopez, Senior Reporter THE central bank can start considering cuts in policy rates, new Governor Benjamin E. Diokno said Friday, but...

Gov’t considering bailout for Hanjin

THE GOVERNMENT may help save the troubled Hanjin Heavy Industries and Construction Philippines (HHIC-Phil) through a bailout via a white knight to be assisted by the state, Budget Secretary Benjamin E. Diokno said on Wednesday.

No special session for 2019 budget — Palace

MALACAÑANG on Friday said President Rodrigo R. Duterte will no longer call for a special session for Congress to finish its deliberations on the proposed 2019 budget.

Malacañang calls lawmakers’ treatment of Diokno ‘unparliamentary’

MALACAÑANG on Friday slammed lawmakers at the House of Representatives for their “unparliamentary behavior” towards Budget Secretary Benjamin E. Diokno.

Palace stands by Budget chief

MALACAÑANG on Thursday stood by Budget Secretary Benjamin E. Diokno amid calls from lawmakers at the House of Representatives for President Rodrigo R. Duterte to remove him over alleged irregularities in the proposed 2019 national budget.

Congressmen want Diokno out; Palace says he still has President’s trust

THE HOUSE of Representatives on Wednesday adopted a resolution urging President Rodrigo R. Duterte to reconsider the appointment of Budget Secretary Benjamin E. Diokno over alleged irregularities in the budget system.

House declines Diokno request to postpone insertions hearing

THE HOUSE of Representatives maintained its decision to hold the “Question Hour” on Tuesday and declined Budget Secretary Benjamin E. Diokno’s postponement request.

Gov’t looks to float sukuk bonds under Islamic finance framework

THE GOVERNMENT is looking at floating Shari’ah-compliant securities next year, but will still wait for the establishment of a legal framework for Islamic banking, the Department of Budget and Management (DBM) said yesterday.

Economic manager suggests removing term limits under federal system

AN ECONOMIC MANAGER said the draft federal constitution submitted by the Consultative Committee (ConCom) to Review the 1987 Constitution may “not yet (be) ripe,” as he proposed such changes as removing term limits and streamlining the federated regions.

Gov’t bonuses due for release in mid-November

THE GOVERNMENT will begin to release the year-end bonus of its employees as well as their cash gifts next week, the Budget chief said. “Starting...