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BSP sees no inflation impact from halt to rice importation

SUSPENSION of rice importation amid the ongoing harvest, as ordered by President Rodrigo R. Duterte, should have no impact on inflation, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said on Wednesday.

Yields on BSP’s term deposits increase as BSP pauses monetary easing

YIELDS ON term deposits ended mostly higher as the central bank decided to pause its monetary easing cycle, with liquidity from previous reserve requirement ratio (RRR) reductions yet to find its way into the financial system.

Peso rebounds vs dollar ahead of US Fed minutes

THE PESO recovered on Wednesday as markets went profit taking before the policy minutes from the US Federal Reserve.

BoP in surplus for 4th month in a row

THE PHILIPPINES got more dollars than it spent to pay off foreign obligations in October, turning around from a year-ago deficit and marking the fourth straight month of balance of payments (BoP) surplus, according to data the Bangko Sentral ng Pilipinas (BSP) reported on Tuesday.

LANDBANK provides Manila P10-B credit line

THE MANILA CITY government signed a P10-billion loan agreement with the Land Bank of the Philippines for financing of upgrades of key facilities, LANDBANK said in a statement on Tuesday.

New lender looking to establish virtual bank in the Philippines

A LENDER is looking to join the virtual banking race in the Philippines, according to Bangko Sentral ng Pilipinas (BSP) Deputy Governor Chuchi G. Fonacier.

Peso weakens vs dollar

THE PESO succumbed to the dollar on Tuesday amid the lack of clarity on a final trade deal between the world’s top two economies.

IMF cautious on PHL growth prospects

THE INTERNATIONAL MONETARY FUND (IMF) maintained its Philippine gross domestic product (GDP) growth projection for this year but slightly raised its 2020 forecast despite increased risks, as state spending improves further, according to a statement the multilateral lender released on Monday at the end of its annual health check on the country.

Salary accounts touted for boosting financial inclusivity

SALARY accounts are viewed as a potential channel for broadening financial inclusion by discouraging employees from paying cash wages, thereby helping workers develop a banking history.

Bankers cite lure of PHL growth story

THE PHILIPPINES’ relatively fast economic growth remains a compelling proposition for investors notwithstanding the recent slowdown, bankers said in a forum late last week, citing particularly the lure of the government’s infrastructure push.

Peso to rally on revived US-China trade hopes

THE PESO is poised to appreciate this week on renewed hopes that US and China will be able to hammer out a “phase one” trade deal.

Finance sector needs to raise understanding of small business needs, bankers...

FINANCIAL inclusiveness should go beyond deploying fintech and move into the area of improving the understanding of the financial needs of small businesses, speakers at a regional banking forum said.

Hot money reverses to net inflow in October

MORE foreign capital entered than left the country in October to yield a net inflow after two months of outflows, the central bank reported on Friday.

Peso inches higher on dovish Fed

THE PESO moved sideways on Friday as the US Federal Reserve hinted it is done with rate cuts for the year and as the market looked for more solid developments in the US-China trade talks.

BSP stays policy, cuts inflation forecast

THE BANGKO SENTRAL ng Pilipinas on Thursday kept monetary policy steady -- as signaled earlier and expected by the market -- and further cut its inflation forecast for the year.

Fitch Solutions upgrades PHL growth outlook on stronger state spending

FITCH SOLUTIONS raised its Philippine economic growth forecast, citing stronger economic expansion in the third quarter on faster government spending and strong household expenditures.

Peso strengthens as BSP keeps interest rates steady

THE PESO strengthened on Thursday as markets expected the central bank to keep rates steady at its policy meeting later in the day.

Gov’t tightens watch on imported rice

THE GOVERNMENT is matching the rising importation of rice with stricter implementation of existing rules for sanitary permits.

Term deposit yields inch higher as BSP halts monetary easing

YIELDS on term deposits inched up on Wednesday as markets anticipate a pause in the central bank’s monetary easing after successive rate cuts this year.

RCBC raises P7.5 billion from three-year bonds

RIZAL COMMERCIAL Banking Corp. (RCBC) has raised P7.5 billion from its fixed-rate bond offering due November 2022.

Peso drops on tensions

THE PESO weakened on Wednesday amid worsening political tensions in Hong Kong and negative developments in the US-China trade negotiations.

Fresh terrorism-financing risks seen from crypto

NATIONAL Security Adviser Hermogenes C. Esperon, Jr. said cryptocurrencies and new digital channels open up new risks for the government to manage as it monitors the financing of terrorism.

Peso rebounds against dollar

THE PESO bounced back on Tuesday as the market took a wait-and-see approach amid global trade uncertainties and a possible pause in the central bank’s monetary policy.

FDI net inflows fall for 6th month in Aug.

FOREIGN direct investment (FDI) inflows dropped year-on-year for the sixth month in a row in August, according to data which the Bangko Sentral ng Pilipinas (BSP) released on Monday.

Rediscount loans rise in October

LOANS TAKEN OUT by banks from the central bank’s rediscount window rose in October from the previous month, data from the Bangko Sentral ng Pilipinas (BSP) showed.

AUB raises P7B via bonds

ASIA UNITED Bank Corp. (AUB) raised a total of P7 billion from its three-year bond offer, above its original program on the back of strong demand.

Peso plunges on geopolitical concerns

THE PESO plunged on Monday due the escalating tensions in Hong Kong, negative developments in the US-China trade war, as well as the continued decrease in inflows of foreign direct investments (FDI) into the Philippines.

Peso to strengthen as BSP halts easing cycle

THE PESO is seen to climb this week on the back of local economic data coming up and signals of a pause in monetary easing from the central bank.

BSP orders closure of two rural banks

THE BANGKO SENTRAL ng Pilipinas (BSP) ordered the closure of Batangas-based Maximum Savings Bank., Inc., mandating the Philippine Deposit Insurance Corp. (PDIC) to take over the rural bank.

BPO industry seen insulated from trade war

THE business process outsourcing (BPO) industry (BPO) is considered insulated from the impact of the trade war, unlike the manufacturing sector, Mitsubishi UFJ Financial Group (MUFG) said.

Japanese investors keen on PHL retail, real estate, bankers say

JAPANESE investors are seeking opportunities in Philippine retail, real estate and consumer finance, a Japanese banker said.

There’s room for another BSP rate cut in 2020: MUFG

THE Philippine central bank might further cut benchmark interest rates next year as the economy continues to pick up amid global conditions, according to Leong Sook Mei, Association of Southeast Asian Nations head of Global Markets Research at MItsubishi UFJ Financial Corp.

Peso barely moves as market waited for US-China deal

THE peso slightly weakened against the dollar on Friday as markets waited for details of a trade tariff deal between the US and China.

Central bank shuts down another rural bank

THE Philippine central bank has ordered for the closure of AMA Rural Bank of Mandaluyong, Inc. and ordered the Philippine Deposit Insurance Corp. (PDIC) to take over its liquidation.

PSBank Q3 net income jumps 20% on fees

PHILIPPINE Savings Bank (PS Bank) posted a 20% increase in profits to P813 million in the third quarter from a year earlier, boosted by interest and fee-based income, according to a stock exchange filing on Friday.

Reserves hit $85.7B at end-Oct.

GROSS INTERNATIONAL reserves (GIR) — which shield the country from liquidity shocks — strengthened further at end-October, the Bangko Sentral ng Pilipinas (BSP) said on Thursday.

Peso strengthens on GDP data

THE PESO strengthened against the dollar on Wednesday on the back of the rebound in economic growth as well as the growth in gross international reserves (GIR).

Yields on term deposits slip on RRR cut

YIELDS on the central bank’s term deposits slipped on Wednesday as inflation eased in October and following increased liquidity due to the reserve requirement ratio (RRR) cut that took effect this month.

Money market gets boost from BSP easing

THE MONEY MARKET has been seeing the effects of the monetary easing of the Bangko Sentral ng Pilipinas (BSP), according to the Money Market Association of the Philippines (MART).

Peso weakens against the dollar on US non-manufacturing data

THE PESO weakened against the dollar on Wednesday following its rally amid better-than-expected US data reported late Tuesday.

Oct. inflation slowest in 3-1/2 years

THE OVERALL rise in prices of widely used goods eased for the fifth straight month to its slowest pace in nearly three-and-a-half years in October, the Philippine Statistics Authority (PSA) reported on Tuesday, citing year-on-year drops for the heavily weighted food and non-alcoholic beverages, transportation and utilities.

Peso extends climb as inflation eases

THE PESO rallied further on Tuesday as inflation eased to a three-year low in October.

Tetangco receives recognition from Japanese government

FORMER BANGKO Sentral ng Pilipinas (BSP) governor Armando M. Tetangco Jr. has been recognized by the Japanese government for his role in liberalizing the entry of foreign banks in the Philippines.

Security Bank net profit climbs 22% in Q3

SECURITY BANK Corp. recorded a higher net profit in the third quarter, driven by double-digit growth in its income from loans and deposits.

Demand for VUL insurance growing in the Philippines

MORE FILIPINOS are choosing to purchase variable unit linked (VUL) products over traditional life insurance, Manulife Philippines said, causing insurers to fine-tune their products to meet the growing demand.