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BSP to keep rates low until end-2022

THE CENTRAL BANK is committed to keeping interest rates low until the end of 2022 to provide support for the economy as it recovers...

BSP sees monetary measures’ impact lagging; backs fiscal action

BANGKO SENTRAL ng Pilipinas (BSP) Governor Benjamin E. Diokno said fiscal measures could be more effective for revving up the recovery at the moment, with monetary easing undertaken during the pandemic still taking time to filter down the banking system.

Banks resilient, have enough buffers vs shocks, says Diokno

BANKS CONTINUE to be armed by strong buffers as defense versus the impact of the coronavirus pandemic on their asset quality, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said.

Diokno sees economy returning to pre-COVID standing by 2022

THE PHILIPPINE economy might take two years to return to its pre-pandemic level, Bangko Sentral ng Pilipinas Governor (BSP) Benjamin E. Diokno said on Thursday.

BSP backs easing data connectivity restrictions for financial inclusion 

THE CENTRAL BANK is backing legislative measures that seek to narrow the digital divide in the country to push financial inclusion in rural areas, said Bangko Sentral ng Pilipinas Governor Benjamin E. Diokno.

BSP to carefully assess timing of unwinding its easing measures

THE central bank will carefully gauge the appropriate timing of unwinding its aggressive policy measures, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said.

Banks’ recovery seen beyond 2022

THE Philippine banking industry may recover to pre-pandemic financial strength after 2022, although this will depend on the extent of the economic fallout from the coronavirus crisis, S&P Global Ratings said.

Forex reserves surpass $100B in September

THE COUNTRY’S gross international reserves (GIR) reached a new record, breaching the $100-billion level as of end-September, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said on Thursday.

MSME loans counted as alternate reserve compliance reach P80B

THRIFT LENDERS have disbursed P80 billion in loans to micro-, small-, and medium-sized enterprises (MSMEs) that qualify as alternate reserve requirement compliance, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said on Tuesday.

Diokno calls Monetary Board’s rate cut pause ‘appropriate’

THE decision by the Bangko Sentral ng Pilipinas (BSP) Monetary Board to pause its rate reduction moves is “appropriate” because the central bank needs to gauge market conditions as pandemic restrictions approach a seventh month, BSP Governor Benjamin E. Diokno said.

Monetary Board approves P540 billion advance to NG

THE central bank on Thursday approved a P540-billion cash advance to the National Government (NG) to boost its war chest against the pandemic.

BSP may remain accommodative for at least two years

THE central bank may maintain the low interest rate environment in the next two years to provide support to the economy amid uncertainty caused by the coronavirus disease 2019 (COVID-19) pandemic.

BSP says liquidity support hit P1.4T

THE Philippine central bank has  infused P1.4 trillion into the financial system as part of measures to support the economy amid the coronavirus crisis, Governor Benjamin E. Diokno said.

Remittance decline seen weakening consumer spending, demand — Diokno

THE DECLINE in cash remittances due to the coronavirus pandemic will translate to lower consumer spending as well as demand, according to Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno.

Pawning activities dropped in first semester

PAWNSHOPS saw a decrease in consumers tapping them for services in the first half of the year, said Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno.

BSP ready to ease policy ‘if warranted’

THE central bank still has room for further easing if the need arises, Bangko Sentral ng Pilipinas Governor Benjamin E. Diokno said.

Peso free to extend Asia’s biggest gain as Diokno stands aside

The Philippine peso advanced closer toward the psychologically significant level of 48 per dollar after Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said the market was free to determine its level.

BSP warns vs 1-year debt moratorium

BANGKO SENTRAL ng Pilipinas (BSP) Governor Benjamin E. Diokno on Thursday warned the proposed one-year debt moratorium for borrowers under the Bayanihan to Recover as One (Bayanihan II) measure will “significantly strain” the banking industry.

BSP sees no reason for further easing

THE Bangko Sentral ng Pilipinas (BSP) is not inclined to cut rates further at this time and will likely keep rates steady in the next quarters, BSP Governor Benjamin E. Diokno said on Monday.

PhilPASS Plus to go live by June 2021

A REVAMPED VERSION of the country's real-time gross settlement system for interbank transactions and government collections will go live by June next year, said Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno.

Worst is over for economy, says Diokno

BANGKO Sentral ng Pilipinas Governor Benjamin E. Diokno on Wednesday said the “worst is over” for the economy after it already hit the lowest point of the crisis.

BSP cuts RRR of thrift, rural banks

THE Bangko Sentral ng Pilipinas (BSP) on Tuesday reduced the reserve requirement ratio (RRR) of thrift and rural banks in order to boost lending amid the crisis.

BSP to keep easy policy over 2 years

THE Philippine central bank will likely keep an accommodative policy over the next two years to deal with lingering economic damage from the coronavirus pandemic, Governor Benjamin E. Diokno said on Tuesday.

BSP ready to ease further when needed, awaiting right conditions

THE central bank stands ready to ease monetary policy, but views current money supply as ample and is gauging when the financial system can absorb extra liquidity, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said.

Lack of financial literacy hindering people in dealing with pandemic, Diokno...

MANY FILIPINOS are suffering from “apparent financial insecurity” stemming from the lack of financial literacy, which is hampering their ability to cope during a “once-in-a-lifetime pandemic,” Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said.

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.