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Multinational firms’ lending to their Philippine subsidiaries drove foreign direct investments (FDIs) to a five-month high in July, reaching halfway through the Bangko Sentral ng Pilipinas’ (BSP) 2024 projection. According to the BSP’s report, July saw a…
Rural and cooperative banks continue to lead in providing loans to micro, small, and medium enterprises (MSMEs), as the Philippine banking industry once again fell short of its lending quota for this key sector. According to the…
MANILA — The Philippine peso touched the 58-per-dollar level for the first time in almost two years during the morning trade on Tuesday. As of 9:47 a.m., the local currency’s weakest showing stood at 58 against the…
MANILA — In December, inflation decreased for the third consecutive month, despite the typical increase in demand during the holiday season. This was attributed to slower rises in utility expenses and the prices of certain essential food…
MANILA – Businesses and households are less optimistic about their prospects in the first quarter of 2024 due to concerns about ongoing high inflation and worries about lower income, according to the latest survey by the Bangko…
MANDAUE CITY, Cebu — Do you have mutilated banknotes and coins? Have them exchanged with crisp bills and new coins through the Piso Caravan of the Bangko Sentral ng Pilipinas (BSP) Visayas Regional Office. The BSP is…
CEBU CITY, Philippines — The Cebu City government is set to implement cashless transactions for real property and business tax payments. In a statement on Thursday, August 11, 2022, Cebu City Vice Mayor Raymond Alvin Garcia said…
MANILA, Philippines — The governor of the Bangko Sentral ng Pilipinas (BSP) was asked to clarify the rules and validity of the new polymer P1,000 bills after warnings were issued that it was not advisable to fold…
MANILA, Philippines—Is it time to kick the habit of folding banknotes? Recently, a netizen shared dismay online after a popular mall in the country allegedly refused to accept a folded 1,000-peso polymer banknote that she used for…
MANILA, Philippines—While President Ferdinand Marcos Jr. expressed disbelief at the June 2022 inflation rate announced by state statisticians, saying that “we’re not that high,” the Philippine Statistics Authority (PSA) declared that it “stands by its data.” The…
The Bangko Sentral ng Pilipinas (BSP) has been criticized—wrongly, I think—for being “dovish,” “behind the curve,” or not acting fast enough in response to speeding inflation and exchange rate movements. It seems to me that economists (as…
MANILA, Philippines — The central bank will likely keep its key interest rate unchanged when its Monetary Board convenes on Thursday with the regulator finding itself lodged between the opposing demands of fighting rising inflation and restarting the…
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