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BANGKO SENTRAL ng Pilipinas (BSP) Governor Nestor A. Espenilla, Jr. has extended his medical leave until the end of the month, adding that he could take “intermittent” leaves in the future.
THE BANGKO SENTRAL ng Pilipinas (BSP) may pause its tightening moves should month-on-month inflation show deceleration, a member of the policy-making Monetary Board said, noting that the impending removal of rice import quotas should help prod overall price increases back to target in 2019.
THE CENTRAL BANK is tightening rules covering non-stock savings and loan associations (NSSLAs) by capping service fees and requiring risk management protocols to enhance oversight.
CASH remittances slipped in August from a year ago due to lower inflows from the Middle East, the central bank said on Monday, which could signal softer household spending in the third quarter.
BANGKO SENTRAL ng Pilipinas (BSP) Governor Nestor A. Espenilla, Jr. got the third-highest rating for his first year as central bank chief, with the Global Finance magazine touting sustained economic growth while noting the weaker peso and a wider trade gap as setbacks.
SOARING world crude prices will further bloat the country’s trade deficit, which in turn could keep the peso under pressure over the coming year, a global bank said.
A REGIONAL research group has slashed its growth forecast for the Philippines, noting that surging inflation and consumer pessimism will likely weigh on household spending and dampen overall expansion.
THE government will pursue competitive bidding for the national ID system, with the pilot registration pushed back to next year.
BIG BANKS again failed to comply with required lending to the farming sector in June, which came at a time of robust asset growth, latest central bank data showed.
FURTHER RELAXATION of foreign exchange rules can be expected to be more gradual for now as monetary authorities focus more on tempering sharp swings in daily peso-dollar trades, according to a senior official of the Bangko Sentral ng Pilipinas (BSP).
INFLATION will likely hover above seven percent in the remaining months of 2018, ANZ Research said, adding to mounting doubts about government expectations that overall price spikes could have peaked last quarter.
THE WORLD BANK has released a $496.25-million aid package for the Philippines to help fund reconstruction and recovery in areas hit by typhoon Ompong (international name: Mangkhut).
TRANSFER pricing schemes employed by companies have resulted in annual revenue losses of at least P43 billion in 2015, the Department of Finance (DoF) said.
INFLATION likely clocked in faster in September as a strong typhoon that month pushed food prices even higher, according to a BusinessWorld poll in which analysts cited the need for more interest rate hikes from the central bank to rein in overall price pressures.
BAD debt held by big banks grew further in July but remained subdued relative to the over 18% pace of loan growth, the central bank said.
ANZ Research once more scaled down its growth forecast for the Philippines, citing the volatile global environment coupled with rapid domestic inflation.