interest-rates | ABS-CBN News

Fed keeps rates unchanged as US recovery depends on stopping virus, govt relief

Agence France-Presse
Posted at Jul 30 08:40 AM

The resurgence in coronavirus cases in recent weeks is weighing on US economic activity, and a recovery will depend both on checking the virus and government aid, Federal Reserve Chair Jerome Powell said Wednesday. Read more »

Indonesia cuts rates as virus batters SE Asia's biggest economy

Agence France-Presse
Posted at Jul 16 08:01 PM

Indonesia's central bank on Thursday cut interest rates for the fourth time this year, with Southeast Asia's biggest economy battered by the coronavirus pandemic.  Read more »

Bangko Sentral says rate cut pause to help market ‘digest’ easing actions

ABS-CBN News
Updated as of Jul 13 11:30 AM

Bangko Sentral ng Pilipinas Governor Banjamin Diokno said Monday the country still has "lots of bullets" to fire if needed to support the economy in its fight against the coronavirus pandemic.  Read more »

Malaysia slashes rates to record low to fight virus impact

Agence France-Presse
Posted at Jul 07 06:09 PM

Malaysia's central bank on Tuesday slashed interest rates to a record low to fight the impact of the coronavirus pandemic, and warned that the pace of economic recovery was uncertain.   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 »

Fed revisits 'Great Recession-era' promise of keeping interest rates low

Reuters
Posted at Jul 02 08:26 AM

Federal Reserve policymakers are looking at reviving a Great Recession-era promise to keep interest rates low until certain conditions are met, in a bid to deliver a more rapid recovery from the recession triggered by the coronavirus pandemic. 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 »

Rebound 'limited' so far, Diokno says as BSP ponders on next rate cut

ABS-CBN News
Updated as of Jun 22 10:07 AM

Bangko Sentral ng Pilipinas Governor Benjamin Diokno said Monday the economic recovery had been "limited" so far based on data from big tech, ahead of an interest rate-setting meeting this week. Read more »

Indonesia's central bank cuts rates as economy tanks

Agence France-Presse
Posted at Jun 18 05:55 PM

Indonesia's central bank on Thursday cut interest rates for the third time this year and scaled back its growth projections as the global pandemic batters Southeast Asia's biggest economy. Read more »

Remittances poised for drop due to virus as BSP pledges to do 'whatever it takes'

ABS-CBN News
Updated as of Jun 16 01:47 PM

Bangko Sentral ng Pilipinas Governor Benjamin Diokno said Tuesday dollar remittances this year could shrink due to the coronavirus pandemic, adding he would do "whatever it takes" to support the economy. Read more »

Bangko Sentral: Policy moves aim to build credit lines for consumers

ABS-CBN News
Posted at Jun 08 11:11 AM

The Bangko Sentral ng Pilipinas on Monday said it has reduced key interest rates and the reserve requirement ratio for banks to aid firms during the time of the coronavirus pandemic.  Read more »

Economy back to 75 percent capacity by July, Bangko Sentral says

ABS-CBN News
Updated as of Jun 02 10:07 AM

Diokno will convene the Monetary Board on June 25 after cutting the benchmark interest rate by 125 basis points this year, 100 of which was delivered during the lockdown or enhanced community quarantine. Read more »

What are bank interest rates and why do they matter?

Moneymax.ph
Posted at Jun 01 11:30 AM

You’ve seen these numbers on countless bank commercials and brochures, but do you know exactly what bank interest rates are? And why do you think it’s important to open a bank account with a higher rate? Find out more in this short guide about bank interest rates.  Read more »

Fed's Powell to assess next phase of pandemic economy

Howard Schneider, Reuters
Posted at May 13 07:05 PM

Federal Reserve Chair Jerome Powell, having overseen the rapid creation of the central bank's massive network of pandemic-era programs, turns his attention Wednesday morning to where things stand on the cusp of what may be a risky reopening occurring disparately across the 50 US states. Read more »

Philippines needs 'sizable' new COVID-19 budget fast: Nomura

ABS-CBN News
Updated as of May 11 10:38 AM

The Philippines needs to deploy a "sizable" supplementary budget fast to counter the economic fallout from the COVID-19 pandemic, an analyst said Monday. Read more »

Philippines needs fresh budget for jobs, 'new economy': Bangko Sentral

ABS-CBN News
Updated as of May 11 02:07 PM

Bangko Sentral ng Pilipinas Governor Benjamin Diokno said Monday the Philippines would need a supplemental budget "very badly" to build the new economy borne out of the COVID-19 pandemic. Read more »

Malaysia slashes rates to fight virus impact

Agence France-Presse
Posted at May 05 09:25 PM

Malaysia's central bank on Tuesday slashed interest rates to their lowest level since the 2009 global financial crisis as the coronavirus pandemic batters the economy.   Read more »

Philippines tipped for recession this year, rebound in 2021: BSP

ABS-CBN News
Updated as of Apr 27 10:03 AM

Bangko Sentral ng Pilipinas Governor Benjamin Diokno said Monday the economy was poised to slide into a recession in 2020, contracting by 0.2 percent for the full year due to an extended lockdown to stop the COVID-19 pandemic. Read more »

Asia shares edge ahead, eyes on Bank of Japan easing

Wayne Cole, Reuters
Posted at Apr 27 08:46 AM

Asian shares inched higher on Monday ahead of a busy week for earnings and central bank meetings, with much chatter the Bank of Japan (BOJ) will announce more stimulus steps. Read more »