News

PH posts balance of payments surplus in April

ABS-CBN News
Posted at May 20 03:19 PM

The Philippines posted a balance of payments surplus of $467 million in April, reversing a $270 million deficit posted in the same month last year.  Read more »

Cooling inflation, growth raise chance of cut in benchmark rate, RRR: Reuters poll

Karen Lema, Reuters
Updated as of May 06 09:52 PM

Inflation in the Philippines likely eased for a sixth straight month in April, giving the Bangko Sentral ng Pilipinas (BSP) leeway to ease monetary policy to support a slowing economy, a Reuters poll showed.  Read more »

PH books $627-M balance of payments surplus in March

ABS-CBN News
Posted at Apr 17 04:25 PM

The Philippines booked a balance of payments (BOP) surplus of $627 million in March 2019, the Bangko Sentral ng Pilipinas said Wednesday.  Read more »

World stocks, euro inch higher on ECB stance

Herbert Lash, Reuters
Posted at Apr 11 08:13 AM

ECB President Mario Draghi confirmed policymakers were considering whether measures are needed to mitigate the impact on European banks of the central bank's negative deposit rates. Read more »

FDI net inflows lower in January

ABS-CBN News
Posted at Apr 10 03:28 PM

The Philippines booked $609 million in net inflows of foreign direct investments (FDI) in January, down 38.2 percent from the same month last year, according to central bank data. Read more »

Bangko Sentral sees no asset bubbles in property sector

ABS-CBN News
Posted at Mar 27 12:03 AM

The Bangko Sentral ng Pilipinas allayed concerns an asset bubble was forming amid the pace of credit growth due to strong demand for real estate in the country. Read more »

PH posts $467-M balance of payments surplus in February

ABS-CBN News
Posted at Mar 19 09:28 PM

The Philippines booked a balance of payments (BOP) surplus of $467 million in February, a reversal of the $429 million deficit posted in the same month last year, the Bangko Sentral ng Pilipinas said Tuesday.  Read more »

FDI net inflows down 4.8 pct in December

ABS-CBN News
Updated as of Mar 11 07:53 PM

The Bangko Sentral ng Pilipinas said net inflows of foreign direct investments (FDI) reached $677 million in December last year, which was lower by 4.8 percent compared to the previous period.  Read more »

ECB move sends stocks lower; dollar climbs

Chuck Mikolajczak, Reuters
Posted at Mar 08 09:05 AM

A gauge of global stock markets stumbled on Thursday while the US dollar rose, as the European Central Bank postponed interest rate hikes to 2020 and launched a new round of cheap loans to banks in an effort to spark the euro zone economy. Read more »

ECB pushes out rate hike, offers cheap cash to banks

Francesco Canepa and Balazs Koranyi, Reuters
Posted at Mar 08 09:05 AM

The European Central Bank changed tack on its tightening plan on Thursday, pushing out the timing of its first post-crisis rate hike until 2020 at the earliest and offering banks a new round of cheap loans to help revive the euro zone economy. Read more »

Diokno 'reputable' but 'not the best choice' for BSP chief - Lacson

ABS-CBN News
Posted at Mar 05 07:44 PM

MANILA - Outgoing Budget Secretary Benjamin Diokno has a "reputable" record in government but is "not the best choice" for Central Bank governor, a senator said Tuesday.  Read more »

Inflation seen returning to BSP's target range: Reuters poll

Reuters
Posted at Mar 04 05:21 PM

Annual inflation is forecast to have slowed to a one-year low of 4.0 percent in February, according to the median view in a poll of 12 economists, due to cheaper food and fuel prices, and a strong peso. Read more »

Colleagues, friends mourn central bank chief Espenilla

ABS-CBN News
Updated as of Feb 24 03:04 PM

Colleagues and friends in the banking and financial industry mourned the loss of Bangko Sentral ng Pilipinas Gov. Nestor Espenilla, who passed away Saturday after battling cancer.  Read more »

Espenilla was BSP's top cop, champion for marginalized

ABS-CBN News
Updated as of Feb 24 01:27 PM

Bangko Sentral ng Pilipinas Governor Nestor Espenilla, who succumbed to tongue cancer, knows when to crack the whip while pushing for wider access to financial services, especially for the poor. Read more »

Central bank chief Nestor Espenilla passes away

ABS-CBN News
Updated as of Feb 24 10:44 AM

MANILA - Bangko Sentral ng Pilipinas (BSP) Governor Nestor Espenilla Jr. died on Saturday after battling tongue cancer for more than a year, the central bank confirmed on Sunday. He was 60. Read more »

Bangko Sentral warns people who deface money may face fines, jail time

ABS-CBN News
Posted at Feb 19 10:36 PM

Under the law, drawing on peso bills and coins, or doing acts that destroy them is punishable with a fine of up P20,000 and imprisonment of up to 5 years.  Read more »

BSP to act if liquidity not enough to maintain growth: Guinigundo

Stanley White, Reuters
Posted at Feb 19 09:55 PM

The Philippine central bank will act swiftly if it judges there is not enough liquidity in the financial system to maintain economic momentum, its deputy governor Diwa Guinigundo said on Tuesday. Read more »

PH posts $2.7-B balance of payments surplus in January

ABS-CBN News
Updated as of Feb 19 07:47 PM

This was a reversal of the $531 million BOP deficit recorded in January 2018, the BSP said.  Read more »

FDI net inflows down 45.9 pct in November

ABS-CBN News
Updated as of Feb 11 11:58 PM

The Bangko Sentral ng Pilipinas said the decline was due largely to the drop in net investments in debt instruments. Read more »

SWIFT says helping Bangladesh Bank rebuild network after cyber heist

Krishna Das, Reuters
Updated as of Feb 04 11:19 PM

SWIFT's comments came after the New York Fed on Friday agreed to provide "technical assistance" to Bangladesh Bank in its lawsuit against Manila-based Rizal Commercial Banking Corp (RCBC). RCBC was used to funnel the money, much of which disappeared into the casinos of the Philippines. Read more »