News

Cash remittances from overseas Filipinos down 0.9 pct in August: BSP

ABS-CBN News
Posted at Oct 15 06:49 PM

Cash remittances from overseas Filipinos reached $2.5 billion in August, lower by 0.9 percent compared to the same month last year, the central bank said Monday. Read more »

The US Federal Reserve: How does it work?

Agence France-Presse
Updated as of Oct 12 07:23 AM

The US Federal Reserve is subject to intense scrutiny by governments and investors worldwide since its decisions can ripple throughout the global economy. But how does it really work? Read more »

PH posts $1.27-B balance of payments surplus in August: BSP

ABS-CBN News
Updated as of Sep 19 07:46 PM

The Philippines posted a balance of payments (BOP) surplus of $1.27 billion in August 2018, the Bangko Sentral ng Pilipinas said Wednesday. Read more »

U.S. charges North Korean in Bangladesh central bank, Sony hacks

Agence France-Presse
Updated as of Sep 07 08:31 AM

The hack of the central bank of Bangladesh saw at least $81 million stolen and transferred between a number of accounts in the Philippines and elsewhere, rendering most of it unrecoverable. Read more »

BSP Gov: Digitalization to boost financial inclusion, benefit women

Jan Yumul, ABS-CBN News
Posted at Sep 06 10:24 PM

The level of financial inclusion is already higher with women than men in Philippines, but the digitalization of financial services may boost this further, according to Bangko Sentral ng Pilipinas Governor Nestor Espenilla Jr. Read more »

Bangko Sentral doesn't expect inflation to hit 6 or 7 pct

Neil Jerome Morales, Reuters
Posted at Aug 23 05:25 PM

The Philippine central bank does not expect inflation to reach 6 or even 7 percent, and is optimistic that it will ease after peaking either in August or September, its governor said on Thursday. Read more »

PH posts $455-M balance of payments deficit in July

ABS-CBN News
Posted at Aug 20 06:55 PM

The Philippines posted a balance of payments deficit of $455 million in July pushing the total BOP deficit from the January to July to $3.71 billion, the Bangko Sentral ng Pilipinas said Monday.  Read more »

BSP raises inflation forecast for 2018, 2019

ABS-CBN News
Updated as of Aug 09 08:48 PM

The BSP raised its inflation forecast for this year to an average of 4.9% from 4.5% announced in June.  Read more »

Gross reserves dip to $76.89 billion in July: BSP data

ABS-CBN News
Posted at Aug 07 11:01 PM

The Philippines' gross international reserves slipped for a seventh straight month, according to preliminary data from the central bank.  Read more »

Second quarter growth seen steady, 3rd rate hike coming: Reuters poll

Enrico Dela Cruz, Reuters
Updated as of Aug 08 08:33 AM

The Philippine economy probably expanded at a slightly slower pace in the second quarter but that will not stop the central bank from hiking the key interest rate by up to 50 basis points on Thursday to contain mounting inflation, Reuters polls show. Read more »

July inflation seen higher, rate hike likely: Reuters poll

Reuters
Updated as of Aug 06 03:41 PM

Philippine annual inflation likely quickened for a seventh straight month in July due to higher food, fuel and utility costs, a Reuters poll showed, raising the chances of a third interest rate hike this year. Read more »

BSP to resume cuts to reserve requirement next year: Espenilla

Reuters
Posted at Jul 26 07:41 PM

The Philippine central bank will resume cutting the reserve requirement ratio (RRR) next year after reducing it by a total 2 percentage points this year in line with its medium-term goal to bring it to single digit levels, its governor said on Thursday.    Read more »

Bangko Sentral seeks NBI help vs fake bills on social media

ABS-CBN News
Updated as of Jul 13 04:11 PM

The Bangko Sentral ng Pilipinas said Friday it sought help from the National Bureau of Investigation to identify those who had been "maliciously" posting defaced and fictitious bills on social media. Read more »

BSP may hike key rate for 2nd straight time: analyst

ABS-CBN News
Updated as of Jun 19 04:38 PM

The Bangko Sentral ng Pilipinas may raise its benchmark interest rate on Wednesday, the second increase this year, to address rising consumer prices, an analyst said.   Read more »

Euro craters, dollar soars, as ECB holds off on rate hikes

Nick Brown, Reuters
Posted at Jun 15 08:37 AM

The US dollar rose against a basket of major currencies by more than a penny as the euro cratered, and US stocks ticked up in afternoon trading on Thursday, as the European Central Bank signaled interest rate hikes were a long way off. Read more »

Treasury yields jump, Wall Street falls after Fed decision

Nick Brown, Reuters
Posted at Jun 14 08:13 AM

Trade tensions are also weighing on markets, as the US prepares to unveil more tariffs on $50 billion worth of Chinese goods. Emerging market stocks lost 0.61 percent. Read more »

Global stocks mixed ahead of Fed, ECB decisions

Agence France-Presse
Posted at Jun 13 08:05 AM

Markets moved little following the meeting between US President Donald Trump and the North Korean leader Kim Jong Un, with some analysts lauding the positive tone of the event but uncertain of whether it would result in significant change. Read more »

Dissecting Data: Inflation and Interest Rates

ABS-CBN News
Updated as of Aug 07 07:07 PM

The Bangko Sentral ng Pilipinas may raise interest rates as early as Thursday, to address quickening inflation, analysts say. Read more »

ANALYSIS: No fun coping with Asia’s fastest-rising consumer prices

Jose Galang -- Your Business
Posted at Apr 05 01:52 PM

Inflation in the Philippines is now fastest among Asian economies.  Read more »

Cyber attack at Malaysian central bank puts PH banks on alert, but ‘no funds were lost’

Reuters
Updated as of Apr 01 12:26 AM

The alert was issued on Wednesday, and there had been no specific threat, officials said. Read more »