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Gradual recovery seen to begin this month

ECONOMIC managers are hopeful the Philippines will begin its gradual recovery this month, as lockdown restrictions continue to be eased around the country.

PHL needs to strengthen fight vs financial crimes

THE Philippines should review its information-sharing mechanism to better address issues related to financial crimes, according to an analyst.

Robocash to set up digital bank in PHL

ROBOCASH GROUP is seeking to raise $5 million before it conducts an initial public offering (IPO) as it eyes to launch a bank in the Philippines.

Peso strengthens on BoP surplus

THE PESO continued to strengthen versus the greenback on risk-on sentiment amid the wider balance of payments (BoP) surplus in May and dovish signals from the US Federal Reserve.

BoP surplus widens in May

THE country’s balance of payments (BoP) saw a bigger surplus in May on the back of the National Government’s foreign borrowings and a narrower merchandise trade deficit.

Central bank plans maiden securities offer within 3rd quarter

THE Bangko Sentral ng Pilipinas (BSP) is planning to conduct its maiden securities issuance within the third quarter.

TDF yields drop on BSP’s policy easing

YIELDS on the Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF) dropped on Wednesday as the central bank resumed offering the longest 28-day tenor and following the rate cut last week.

Peso inches up on stronger manufacturing data

THE PESO closed sideways against the greenback on Wednesday after the release of stronger June manufacturing data as well as a weaker dollar on concerns over higher infections in the US.

BSP sees inflation at 1.9% to 2.7% in June

HEADLINE INFLATION likely settled within the 1.9% to 2.7% range in June amid upside risks from higher prices of oil and rice, the Bangko Sentral ng Pilipinas (BSP) said on Tuesday.

AUB to review accounts to assess client needs

Asia United Bank Corp. (AUB) will review individual accounts to assess client needs during the coronavirus pandemic and ensure the bank’s stability.

Thrift lenders push for lower reserve ratio to boost lending to...

The Chamber of Thrift Banks (CTB) is pushing for a lower reserve requirement ratio (RRR) to help encourage lending to embattled small businesses.

Peso rallies on positive US data

THE peso strengthened against the greenback on Tuesday on US data suggesting signs of economic recovery and month-end transactions.

Peso climbs on BSP cut

THE PESO continued to strengthen against the greenback on Monday on positive investor sentiment after the central bank’s rate cut last week.

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.

Another rate cut still on the table — analysts

THE surprise policy rate reduction from the central bank may not be the last, as it takes an aggressive and accommodative stance while waiting for the fiscal stimulus measures to catch up, according to analysts.

Peso to rise on rate cut

THE PESO is seen to continue appreciating against the greenback as the surprise rate cut last week is expected to support market sentiment.

Weaker job market to pressure home loan approvals, condo lessors likely...

REAL ESTATE loans will likely cool in the second quarter after the pandemic left many jobless and eroded job security for the rest of the workforce, making loan applicants less likely to be approved, Colliers Philippines said.

Peso strengthens past P50/dollar after BSP easing

The peso strengthened past the P50 to the dollar level after the latest round of easing from the central bank and as market participants...

Rediscount rates lowered after rate cut

The central bank's rediscount rate has been lowered to reflect the latest adjustment in the benchmark interest rates. "The rediscount rate for loans under the...

Home price growth accelerates in first quarter

Home prices grew in the double digits in the first quarter, the Bangko Sentral ng Pilipinas (BSP) said. According to the central bank's Residential Real...

Philippine economy may shrink by 3% on lockdown — S&P

The Philippine economy could shrink by 3% this year, the price to pay for having one of the toughest lockdowns in the world, according...

BSP slashes policy rate to record low

THE Bangko Sentral ng Pilipinas (BSP) unexpectedly cut benchmark rates on Thursday, its fourth easing move this year, to help boost the economy amid dimmer global prospects.

$1B in ‘hot money’ flees country in May

FOREIGN CAPITAL worth $1 billion exited the Philippines in May, the biggest net outflow in more than six years as the ongoing coronavirus crisis prompted investors to seek safer havens.

Peso moves sideways ahead of BSP policy meeting

THE PESO closed sideways versus the greenback on Thursday as investors awaited the central bank’s monetary policy decision, which came after the market’s close.

PHL gloom to further deepen — IMF

THE International Monetary Fund (IMF) expects a harsher downturn for the Philippine economy this year, with recovery likely to be slower as the global economic fallout from the coronavirus crisis appears to be worse than initially anticipated.

Record forex buffer in May boosted by gov’t bond sale

THE country’s dollar reserves reached a new record high in May, getting a boost from the government’s global bond issuance to beef up its war chest for the fight against the coronavirus pandemic.

Term deposit yields dip ahead of BSP’s policy-setting meeting

YIELDS on the Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF) dipped as the market awaits the decision of the Monetary Board’s policy-setting meeting this Thursday.

BSP tells banks to ramp up consumer protection

THE BANGKO SENTRAL ng Pilipinas (BSP) urged financial institutions to beef up their safeguards against scammers amid complaints on reported scams and fraudsters.

Peso strengthens to P49:$1 level on record reserves

THE PESO climbed to the P49-per-dollar level on Wednesday as market sentiment improved due to data showing record-high dollar reserves as well as positive leads on the US-China trade deal.

BDO to buy out Nomura in joint venture

BDO Unibank, Inc. is seeking full control of its joint venture with Tokyo-headquartered Nomura Holdings, Inc. in a bid to consolidate its brokerage business.

PNB to reduce exposures to risky sectors

PHILIPPINE NATIONAL Bank (PNB) will reduce its exposures to some sectors to help reduce emerging risks due to the coronavirus crisis.

Security Bank to raise P5 billion

SECURITY BANK Corp. is looking to raise P5 billion via its offer of two-year peso-denominated bonds.

EastWest Bank denies acquisition rumors

Officials from East West Banking Corp. (EastWest Bank) and its parent unit, Filinvest Development Corp. (FDC) denied rumors the bank is being sold to another lender.

BSP likely to keep rates steady — poll

THE Bangko Sentral ng Pilipinas (BSP) will likely keep benchmark rates untouched at its review this week, although some economists are pricing in another easing in the latter part of 2020 when the extent of the pandemic’s economic impact becomes clearer.

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.

BPI looking to raise P3 billion from bonds

BANK of the Philippine Islands (BPI) is looking to raise at least P3 billion from its COVID (coronavirus disease 2019) Action Response (CARE) Bonds which will comprise the third tranche of its P100-billion bond program.

Peso weakens on rise in new infections

THE PESO weakened against the greenback on Monday on fears over a rise in infections and the economic fallout from the pandemic.

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.

Credit raters to keep close eye on PHL recovery

THE country’s pace of recovery after the crisis will be a key consideration in sovereign rating assessment, according to credit raters.

Economic slowdown to affect loan growth

PHILIPPINE BANKS may see sustained weakness in loan growth this year as consumer demand is expected to wane due to the economic fallout from the virus outbreak.

Peso to weaken on geopolitical concerns

THE PESO is likely to weaken versus the greenback this week amid continued geopolitical tensions and as the market awaits the release of local budget deficit data.

Extreme weather linked to weaker deposit growth, loan quality

EXTREME weather episodes tend to erode banks’ deposit growth, loan quality, and profitability, the Bangko Sentral ng Pilipinas (BSP) said, citing the results of a study.

Net FDI inflows tumble in March as virus spooks investors

By Luz Wendy T. Noble, Reporter FOREIGN DIRECT investment (FDI) inflows tumbled in March as the coronavirus disease 2019 (COVID-19) pandemic escalated around...

Philippines’ current account swings to a surplus in Q1

By Luz Wendy T. Noble, Reporter The Philippines' current account swung to a surplus in the first quarter of 2020, on the back of a...

Remittance drop seen to dent GDP by 0.4%

A POSSIBLE contraction in remittance inflows from overseas Filipino workers (OFWs) due to the pandemic this year could further bring down gross domestic product (GDP) by 0.4%, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said on Thursday.