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'No compelling reason' for further policy cut despite plunging into recession: BSP

ABS-CBN News
Updated as of Aug 10 10:29 AM

Bangko Sentral ng Pilipinas Gov. Benjamin Diokno said Monday there was "no compelling reason" for further policy rate cut despite the steep economy nosedive into recession due to the coronavirus pandemic.  Read more »

Practice 'cyber hygiene' in digital transactions, BSP tells consumers

ABS-CBN News
Updated as of Aug 05 02:43 PM

The Bangko Sentral ng Pilipinas said Wednesday consumers should practice "cyber hygiene" when doing financial transactions online as reported incidents continue to rise. Read more »

PH shares drop as Metro Manila returns to stricter lockdown

ABS-CBN News
Posted at Aug 03 10:19 PM

The Bangko Sentral ng Pilipinas assured the public the shift to a stricter lockdown of Metro Manila and nearby provinces will have limited economic impact. Read more »

Philippine debt tops P9 trillion in June due to loans amid pandemic

ABS-CBN News
Posted at Jul 30 12:26 AM

The Philippine government's outstanding debt climbs to P9 trillion due to loans incurred as part of the government's coronavirus disease 2019 (COVID-19) response.  Read more »

Bangko Sentral launches enhanced banknotes with latest anti-fraud technology

ABS-CBN News
Posted at Jul 29 03:43 PM

The Bangko Sentral ng Pilipinas said Wednesday it has launched enhanced banknotes to incorporate inclusivity, culture and security features. Read more »

Duterte appoints two members to policy making monetary board

ABS-CBN News
Posted at Jul 28 12:09 PM

The Bangko Sentral ng Pilipinas (BSP) said Tuesday, Bruce Tolentino and Anita Linda Aquino have been named by President Duterte as full time private sector representatives to the policy setting monetary board. Read more »

Philippine economy over 'most difficult' period, now on 'rebound' stage, says BSP

ABS-CBN News
Posted at Jul 27 10:30 AM

The country's current monetary policy stance "can hold" over the next few quarters as the economy has passed "the most difficult" period and now on "rebound" towards recovery, Bangko Sentral ng Pilipinas Governor Benjamin Diokno said Monday. Read more »

Bangko Sentral cuts reserve requirement ratio of thrift, rural banks by 100bps

ABS-CBN News
Updated as of Jul 21 10:32 AM

The Bangko Sentral ng Pilipinas (BSP) on Tuesday said it cut the reserve requirement ratio for thrift, savings and cooperative banks by 100 bps effective July 31. Read more »

UCPB extends free fund transfers via InstaPay, PESONet until Dec. 31

ABS-CBN News
Posted at Jul 20 05:37 PM

United Coconut Planters Bank said Monday it would waive fees for fund transfers through InstaPay and PESONet transactions to assist consumers during the coronavirus pandemic. Read more »

Moody’s affirms Philippines’ Baa2 rating, keeps 'stable' outlook

ABS-CBN News
Updated as of Jul 16 07:55 PM

Moody’s Investors Service has affirmed the Philippines’ credit rating of “Baa2” with a “stable” outlook, the Bangko Sentral ng Pilipinas said Thursday. Read more »

E-money pushes more Pinoys to get accounts in banks, other financial institutions

ABS-CBN News
Posted at Jul 16 05:40 PM

The Bangko Sentral ng Pilipinas said Thursday the country made significant progress in financial inclusion as 5 million more adult Filipinos now had accounts in banks, e-money issuers and microfinance institutions as of March this year compared to 2017. Read more »

Philippines' gross international reserves reach 'all time high' in June

ABS-CBN News
Posted at Jul 15 02:24 PM

The GIR reached $93.32 billion in June, up by $30.5 million from May's $93.29 billion with inflows from the government's foreign currency deposits with the BSP, the central bank said in a statement. Read more »

Remittances ng mga OFW ngayong taon, posibleng bumaba ayon sa BSP

Joyce Balancio, ABS-CBN News
Posted at Jul 06 11:40 PM

Maaaring bumaba nang hanggang 5 porsyento ang remittances ng mga overseas Filipino workers ayon sa Bangko Sentral ng Pilipinas. Read more »

Trouble repaying loans? Talk to your bank says BSP chief

Arianne Merez, ABS-CBN News
Updated as of Jul 06 05:38 PM

Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno urged consumers on Monday to discuss interest rates with their banks if they are having trouble paying loans. Read more »

June inflation likely within 1.9 - 2.7 percent: BSP think tank

ABS-CBN News
Updated as of Jul 06 11:13 PM

Inflation in June likely settled within 1.9 - 2.7 percent, according to the Bangko Sentral ng Pilipinas (BSP) economic research department.  Read more »

Mga bangko, nagbabala laban sa 'phishing' scam

ABS-CBN News
Posted at Jun 29 04:57 PM

Mag-ingat sa ganitong uri ng scam para hindi manakawan ang inyong bank account.  Read more »

Anti-Money Laundering Council promises 'swift and thorough' probe of Wirecard

Reuters
Updated as of Jun 29 05:18 PM

MANILA -- The Philippines' anti-money laundering agency on Monday said it would conduct a "swift and thorough" investigation into scandal-hit German payments firm Wirecard AG and that it has drawn up an initial list of people and entities of interest. Read more »

'Spend' and take advantage of record low interest rates, says BSP Gov. Diokno

ABS-CBN News
Posted at Jun 29 12:35 PM

MANILA – Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno on Monday urged consumers to spend and take advantage of record low interest rates to help revive the pandemic-hit local economy. Read more »

Cuts in reserve requirements 'remain on the table', BSP Diokno says

ABS-CBN News
Updated as of Jun 29 11:18 AM

Cutting the reserve requirement ratio for banks "remains on the table," Bangko Sentral ng Pilipinas Governor Benjamin Diokno said Monday, following a surprise cut in the benchmark interest rate last June 25.  Read more »

Bangko Sentral cuts rate by 50 basis points, benchmark now at lowest ever

ABS-CBN News
Updated as of Jun 25 06:10 PM

The Bangko Sentral ng Pilipinas on Thursday cut its policy rate by another 50 basis points, bringing the benchmark to a record low of 2.25 percent. Read more »