What’s the BSP doing?

Cielito F. Habito - @inquirerdotnet 06/28/2022

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…

Cebu rural bank ordered shut, 5th in 2022

Ronnel Domingo 04/04/2022

The Monetary Board has ordered Metro-Cebu Public Savings Bank to stop doing business and be placed under liquidation, the fifth bank to be shuttered so far this year. Earlier this year, the MB sent out similar orders…

Here’s how to spot, avoid phishing – Bangko Sentral ng Pilipinas

Jane Bautista 01/31/2022

MANILA, Philippines — With incidents of unauthorized transactions in some teachers’ bank accounts, how can users ensure they would not fall victim to a phishing scam? According to a primer of the Bangko Sentral ng Pilipinas (BSP), phishing happens…

BSP allays public fears over bank hacking

Doris Dumalao-Abadilla, Ronnel Domingo 12/13/2021

MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) on Sunday moved to allay public fears triggered by mounting complaints on social media of several bank accounts reportedly being hacked and funds being transferred to the cybercriminals’…

Man arrested with P24,500 worth of fake bills in Cebu City

Pegeen Maisie M. Sararaña 10/20/2021

CEBU CITY, Philippines — Agents of the Criminal Investigation and Detection Group (CIDG-7) arrested on Tuesday evening a 36-year-old man who allegedly manufactures counterfeit money in an entrapment operation in Barangay Basak-San Nicolas in Cebu City.   Police…

‘Inaction is action’ may be BSP’s monetary policy for 2021, says economist

Daxim L. Lucas - Reporter / @daxinq 02/08/2021

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…

Filipino consumers, businessmen more confident about 2021 prospects — BSP survey

Daxim L. Lucas - Reporter / @daxinq 12/11/2020

MANILA, Philippines — Confidence returned to Filipino consumers when polled about their expectations for the first quarter of 2021, after expressing negative sentiment about for the current quarter in the latest survey conducted by the central bank.…

BSP data: Strong dollar remittances in Sept keep PH economy from sinking

Daxim L. Lucas - Reporter / @daxinq 11/16/2020

MANILA, Philippines — The Philippines’ estimated 10 million citizens abroad once more stepped in to buoy the local economy in the middle of a crisis, driving a late third quarter surge in dollar remittance that helped ward…

BSP: Handle new P20 coins properly

Daxim L. Lucas 10/18/2020

MANILA, Philippines — The central bank on Saturday urged the public to “properly handle and circulate” the new P20 New Generation Currency coins that were released to the public in December 2019. The Bangko Sentral ng Pilipinas…

Angara, Pangilinan call for suspension of online transaction fees amid pandemic

Christia Marie Ramos - Reporter / @CMRamosINQ 10/01/2020

MANILA, Philippines — Senators Sonny Angara and Francis Pangilinan want the collection of online transaction fees suspended amid the coronavirus disease (COVID-19) pandemic. In separate statements, Angara and Pangilinan called for the extension of the waiver on…

PH gets another $300-M loan from ADB

Ben O. de Vera 08/22/2020

Another loan worth $300 million has been extended by the Asian Development Bank (ADB) to the Philippines, its host-country, this time to make financial services more accessible to Filipinos. In a statement on Friday, the ADB said…

Small banks now lending more to SMEs thanks to BSP’s reserve cuts

Daxim L. Lucas - Reporter / @daxinq 08/14/2020

MANILA, Philippines — The country’s rural and cooperative banks remain stable and are in a strong position to support the financing needs of micro, small, and medium enterprises as well as large firms in rural communities affected…

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