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Banks prepared to take profit hit to lift economy from COVID-19: official

ABS-CBN News
Updated as of Mar 31 12:18 PM

Philippine banks will do their part to help revive the economy from the COVID-19 pandemic, even if it means taking a profit hit, the head of an industry group said Tuesday. Read more »

Banks told: Keep interest rates 'reasonable' to aid COVID-19 fight

ABS-CBN News
Posted at Mar 30 11:07 AM

Philippine banks must keep lending rates "reasonable" to help the country power through the coronavirus pandemic, the head of an industry association said Monday. Read more »

Bangko Sentral readies full arsenal to rescue Philippine economy from COVID-19

ABS-CBN News
Posted at Mar 20 04:45 PM

The Bangko Sentral ng Pilipinas said Friday it was prepared to deploy its full monetary and regulatory arsenal to help the economy recover from the COVID-19 pandemic. 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 readies interest rate cut to fight COVID-19 contagion on economy

ABS-CBN News
Posted at Mar 16 09:25 AM

Bangko Sentral ng Pilipinas Governor Benjamin Diokno said Monday he would cut the benchmark borrowing rate by 25 basis points or higher later later this week to fight the economic fallout of the coronavirus disease epidemic. Read more »

Bank of England cuts rates in shock move over coronavirus

David Milliken, Reuters
Posted at Mar 11 04:11 PM

The Bank of England unexpectedly cut interest rates by half a percentage point to 0.25 percent on Wednesday in a move to bolster Britain's economy against disruption caused by the coronavirus outbreak. Read more »

Markets mostly rise after emergency Fed cut sinks Wall St

Agence France-Presse
Posted at Mar 04 09:09 PM

Asian and European stocks mostly rose Wednesday after the Federal Reserve sprang its first emergency rate cut since the global financial crisis to counter economic fallout from coronavirus. Read more »

European stocks, oil surge as central banks respond to virus

Agence France-Presse
Posted at Mar 03 08:52 PM

European stock markets and oil prices surged Tuesday and most Asian indices finished higher after Wall Street rocketed, fuelled by hopes of a concerted global response to the deadly coronavirus.   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 »

Global shares extend rebound on policy action hopes

Hideyuki Sano, Reuters
Posted at Mar 03 09:18 AM

The European Central Bank on Monday joined the chorus of central banks signalling a readiness to deal with the growing threats from the outbreak. Read more »

OECD cuts 2020 global growth outlook on coronavirus outbreak

Kyodo News
Posted at Mar 02 09:40 PM

The Organization for Economic Cooperation and Development on Monday lowered its forecast for global economic growth this year, citing the impact of the new coronavirus epidemic on the manufacturing and travel sectors. Read more »

Coronavirus hits global factories, policy easing prospects rise

Jonathan Cable and Leika Kihara, Reuters
Posted at Mar 02 06:30 PM

Fears of a pandemic pushed markets off a precipice last week, wiping more than $5 trillion from global share values as stocks cratered, marking their steepest slump in more than a decade and stoking widespread expectations of monetary easing. Read more »

BOJ reassurance on coronavirus bolsters speculation of global policy action

Leika Kihara, Reuters
Posted at Mar 02 01:55 PM

Bank of Japan Governor Haruhiko Kuroda's comments, made in an emergency statement just days after a similar move by Federal Reserve Chair Jerome Powell, were welcomed by markets as a signal the world's biggest central banks were mustering a coordinated response to the crisis. Read more »

Yen, euro gain on dollar as Fed rate cut talks heat up

Hideyuki Sano, Reuters
Posted at Mar 02 10:32 AM

The Japanese currency had risen 3.2 percent last week, the biggest gain since July 2016. Japan's current account surplus and the yen's vast liquidity make the yen behave like safe haven asset. Read more »

Virus slows aviation, unnerves markets as PH economy braces for shock

Joel Guinto and Cathy Yang, ABS-CBN News
Updated as of Mar 02 09:49 AM

Airlines lost up to 100,000 seats per week, as the Philippines restricted travel to and from China, Hong Kong and Macau. The impact of fresh restrictions on South Korea will depend on how it is handled, said Aileen Clemente, president of Rajah Travel Corp and former head of the ASEAN Tourism Association. Read more »

BSP reviewing estimate on coronavirus impact on PH growth

ABS-CBN News
Posted at Feb 27 08:44 PM

MANILA - The Bangko Sentral ng Pilipinas is reviewing its estimate on the impact of the coronavirus disease 2019 (COVID-19) on Philippine growth, the head of the central bank said on Thursday.    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 »

Moody's says Philippine banks 'stable' as it monitors virus risk

ABS-CBN News
Updated as of Feb 20 10:08 AM

Moody's is also monitoring the impact of the coronavirus outbreak, which has hurt consumption in parts of Asia. Under its "central case," the pathogen will be contained by the end of the first quarter, said Eugene Tarzimanov, lead analyst for banks in Southeast Asia. Read more »

China virus fallout pushes central banks to cut rates: analyst

ABS-CBN News
Updated as of Feb 07 10:33 AM

World commodity prices will remain "depressed" due to weak demand from China, where millions are on lockdown and with many countries closing their borders to those from the mainland, said ING Bank analyst Nicholas Antonio Mapa.   Read more »

Bangko Sentral resumes interest rate cuts

ABS-CBN News
Updated as of Feb 06 06:36 PM

The Bangko Sentral ng Pilipinas on Thursday cut the benchmark interest rate by 25 basis points, resuming policy easing as inflation accelerated past market forecasts but stayed within the government's target range. Read more »