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BSP says Philippine banks can withstand increase in bad loans caused by pandemic

ABS-CBN News
Posted at May 07 06:35 PM

The Bangko Sentral ng Pilipinas said Thursday the country’s banks are strong enough to withstand a possible increase in the number of non-performing loans as businesses reel from the effects of the COVID-19 pandemic.  Read more »

BSP sees 2 more quarters of contraction before economic rebound

ABS-CBN News
Posted at May 07 04:22 PM

Bangko Sentral Governor Benjamin Diokno said Thursday the economy would likely continue contracting in the second and third quarters due to the COVID-19 pandemic before a "strong" recovery at the end of the year. Read more »

The ANC Brief: Tests as game changer

ABS-CBN News
Posted at Apr 13 05:48 AM

The government prepares to ramp up testing for COVID-19. Is it too late? Here are the stories making the headlines on ANC today. Read more »

'Soft landing' for economy: Bangko Sentral signals deeper interest rate cuts

ABS-CBN News
Posted at Apr 12 02:03 PM

Bangko Sentral ng Pilipinas Governor Benjamin Diokno said Sunday the benchmark interest rate should be cut "deeper" as the Philippines faces a "once in a lifetime crisis" due to the COVID-19 pandemic. Read more »

Central banks urged to ‘print lots of money’ to support world economy

ABS-CBN News
Posted at Mar 31 04:32 PM

There list little risk of sparking hyperinflation, similar to what happened in Zimbabwe and Argentina, according to Jeffrey Halley, senior market analyst at currency trader OANDA. Read more »

Philippines 'to do everything' to avoid recession: central bank governor

ABS-CBN News
Updated as of Mar 29 01:57 PM

The Philippines will "do everything" to avoid an economic recession due to the COVID-19 crisis, central bank governor Benjamin Diokno said Sunday. Read more »

European Central Bank sees 'considerable decline' in euro area activity

Agence France-Presse
Updated as of Mar 20 08:21 AM

The president of the European Central Bank (ECB) Christine Lagarde said Thursday that the novel coronavirus pandemic would lead to a "considerable decline" in economic activity in the euro area. Read more »

Bangko Sentral cuts benchmark interest rate in response to COVID-19

ABS-CBN News
Updated as of Mar 19 03:18 PM

The Bangko Sentral ng Pilipinas cut the benchmark interest rate by 50 basis points on Thursday, seeking to defend the economy from the COVID-19 pandemic that plunged the stock market to a record low. Read more »

Bangko Sentral chief Diokno tests negative for COVID-19

ABS-CBN News
Posted at Mar 18 07:39 PM

Bangko Sentral ng Pilipinas Governor Benjamin Diokno is negative for COVID-19, the central bank chief said on Wednesday.  Read more »

Global central banks pull out all stops as coronavirus paralyses economies

Swati Pandey, Reuters
Posted at Mar 16 05:44 PM

The coordinated response from the Fed to the European Central Bank (ECB) and the Bank of Japan (BOJ) came amid a meltdown in financial markets as investor anxiety deepened over the difficulty of tackling a pathogen that has left thousands dead and put many countries on virtual lockdowns. Read more »

ECB pumps up bank lending, bond buys to cushion virus impact

Tom Barfield, Agence France-Presse
Posted at Mar 12 10:26 PM

 The European Central Bank on Thursday followed other major central banks with a flurry of measures to cushion the impact of the coronavirus, including increased bond purchases and cheap loans to banks, but surprised observers by leaving key interest rates unchanged. Read more »

Australia central bank cuts rates to record low on virus fears

Agence France-Presse
Posted at Mar 03 12:26 PM

The Reserve Bank of Australia said it had lowered rates by 25 basis points to 0.50 percent in an effort to offset the impact of COVID-19.  Read more »

Indonesia central bank cuts rates on virus worries

Agence France-Presse
Posted at Feb 20 06:43 PM

Indonesia's central bank cut a key interest rate and shaved its economic growth forecast Thursday as the deadly new coronavirus batters the country's tourism and aviation sectors. Read more »

China cuts loan rate as it battles coronavirus impact

Agence France-Presse
Updated as of Feb 20 03:17 PM

China on Thursday announced it would cut interest rates in a bid to boost the economy, as it battles the economic fallout of the new coronavirus outbreak.   Read more »

BSP: Virus fallout could shave 0.3 point off PH GDP

ABS-CBN News
Posted at Feb 15 01:06 AM

Despite mounting worries on COVID-19's impact on global supply chain, the Philippine central bank stands by its original forecast, that the country's growth will only suffer a 0.3 percentage drop.  Read more »

Diokno: Virus fallout could shave 0.3 point off Philippines GDP in first half

ABS-CBN News
Updated as of Feb 06 05:37 PM

The outbreak could slow tourist arrivals from China and remittances from Filipino expatriate workers there, Diokno said. Economic managers are aiming for 6.5 to 7.5 GDP growth for 2020.  Read more »

Bank of Thailand cuts rates to record low on coronavirus concerns

Kyodo News
Posted at Feb 05 08:54 PM

Thailand's central bank on Wednesday cut its key interest rate to a record low, as concerns mount over the impact of the coronavirus epidemic. Read more »

Bangko Sentral still eyeing at least 50 bps of rate cuts this year

Reuters
Posted at Jan 30 06:31 PM

The Bangko Sentral ng Pilipinas is still considering cutting its benchmark interest rate by at least 50 basis points this year, its governor said on Thursday.   Read more »

Fed seen to keep rates steady despite virus uncertainty

Heather Scott, Agence France-Presse
Posted at Jan 29 10:52 AM

The US economy is on a steady though tepid growth path, but the outbreak of the novel coronavirus that has spread to other countries has fueled concerns it could slow growth in China and the effects will spill over to the global economy. Read more »

PH central bank unfazed by gov't review of contracts

ABS-CBN News
Posted at Jan 24 11:11 PM

The Philippine central bank is staying calm amid growing worries over the high-profile review of business contracts in the country. Read more »