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Bangko Sentral raises inflation forecast for 2018, 2019

Aug 10, 2018 - 10:20 AM

The Bangko Sentral ng Pilipinas sees 2018 full-year inflation hitting 4.9% and 2019 average inflation at 3.7%

INFLATION. Prices of goods continue to rise in the Philippines, prompting the central bank to raise its inflation forecast. Photo by Jire Carreon/Rappler

Inflation hits another fresh high of 5.7% in July 2018

Aug 07, 2018 - 9:05 AM

(UPDATED) This is mainly due to prices of food and non-alcoholic beverages, which keep rising

INFLATION. Prices of food and basic commodities soar in July. Photo by Jire Carreon

BSP shuts down Batangas-based Tiaong Rural Bank

Aug 03, 2018 - 8:26 PM

Tiaong Rural Bank, Inc. is the 6th problmatic bank to be shut down this year

June 2018 inflation soars to 5.2%

Jul 05, 2018 - 9:13 AM

(5TH UPDATE) Inflation climbs to another fresh high, exceeding market expectations and government forecasts

Philippine peso breaches P53 to $1 level, falls to 12-year low

Jun 13, 2018 - 4:58 PM

The peso closes at P53.23 to $1, its weakest level since June 2006

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Jun 05, 2018 - 1:02 PM

Hello! Here are the stories you shouldn't miss this Tuesday.

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Jun 05, 2018 - 12:12 PM

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Philippine inflation spikes at 4.6% in May 2018

Jun 05, 2018 - 9:06 AM

(2nd UPDATE) Inflation hits a new 5-year high

PH hot money net inflows hit $279M in April

May 19, 2018 - 8:30 AM

Data from the Bangko Sentral ng Pilipinas show that the country had a net inflow of foreign portfolio investments for the second straight month in April with $279.28 million, 5 times more than in the same month last year

BSP to demonetize commemorative coins from 1974 to 1994

May 18, 2018 - 3:00 PM

The central bank says the commemorative coins will remain legal tender (mode of payment) up to April 30, 2019

Philippines posts sharpest drop in remittances in 15 years

May 15, 2018 - 7:16 PM

This comes on the heels of the repatriation of overseas Filipino workers from Middle East countries

Images from Shutterstock

Foreign direct investments in PH continue to strengthen in February

May 11, 2018 - 4:30 PM

The country's central bank governor says this reflects investor confidence in the country’s sound macroeconomic fundamentals and growth prospects

Bangko Sentral ng Pilipinas hikes interest rates for first time since 2014

May 10, 2018 - 6:16 PM

The country's central bank expects the inflation rate to be higher in the coming months

BSP revokes licenses of money changers linked to pork barrel scam

May 08, 2018 - 7:45 PM

Edzen Enterprises and World Wide Money Changer are found to have violated the Anti-Money Laundering Act

AMLA VIOLATIONS. Bangko Sentral ng Pilipinas (BSP) revokes the license of two firms linked to the pork barrel scam: Edzen Enterprises and of World Wide Money Changer. Photo of BSP headquarters from Ramon Velasquez/Wikipedia

Philippines' forex buffer hits 3-year low in April

May 07, 2018 - 6:55 PM

This is dragged by outflows arising from payments made by the national government for its maturing foreign obligations as well as the foreign exchange operations of the central bank

Majority of Filipinos still have no bank account – World Bank

May 06, 2018 - 9:00 PM

While the gap remains, the number of Filipino adults holding formal bank accounts is now higher, accelerated by mobile phones and the internet

BSP issues new rules to protect credit cardholders, spur entry of new players

May 04, 2018 - 3:31 PM

The Bangko Sentral ng Pilipinas has issued the implementing rules and regulations of the credit card law, strengthening protection for the country's 8 million credit cardholders

Philippine inflation rises to 4.5% in April 2018

May 04, 2018 - 10:15 AM

Inflation reaches another 5-year high amid price increases for alcoholic beverages and tobacco; transport; as well as housing, water, electricity, gas, and other fuels

Amid high inflation, Bangko Sentral ready to raise interest rates 'if needed'

May 03, 2018 - 4:10 PM

While the Philippine central bank's medium-term inflation outlook remains within the government target, it says it will continue monitoring the figures in case a policy shift is needed

READY TO RAISE. If all considerations point to the need for the BSP to undertake some decisive action, Diwa Guinigundo says BSP 'will not have second thoughts.' File photo by BSP

Rising gas, food prices seen to push PH inflation faster

May 03, 2018 - 12:24 PM

The movement of prices of basic goods and services is seen to be faster in April

HIGHER PRICES. Higher price increases are noted for rice, corn, fish, fruits, and vegetables in March 2018. File photo by Noel Celis/AFP

Bangko Sentral shuts down rural bank in Misamis Oriental

May 02, 2018 - 8:00 PM

The Rural Bank of Initao is the 3rd rural bank to be ordered closed in 2018

SHUT DOWN. Rural Bank of Initao is a single-unit rural bank located in Initao, Misamis Oriental. Available records online shows it had 1,476 deposit accounts, with total deposit liabilities of P46.4 million. Image from Google Maps

BSP launches InstaPay electronic fund transfer service

Apr 23, 2018 - 4:05 PM

Real-time fund transfers or payments of up to P50,000 per transaction, without limit, are allowed in a day

Pimentel on Aguilar, Duterte on Dela Rosa, BSP on Inflation | Midday wRap

Apr 20, 2018 - 12:59 PM

Watch Rappler's midday newscast with Jee Geronimo

Philippine inflation rate averages 3.8% for Q1 2018

Apr 20, 2018 - 10:40 AM

(3rd UPDATE) Inflation hits its highest quarterly average since 2014 as the tax reform law, higher oil prices, a weaker peso, and the tightening of US monetary policy take their toll

MRT, LRT ticketing machines now accept new peso coins

Apr 17, 2018 - 5:40 PM

Commuters can already use the newly designed P1, P5, and P10 coins at ticket vending machines of the MRT3, LRT1, and LRT2

NEW COINS. The ticketing vending machine at MRT3 and LRT Lines 1 and 2 now accepts the newly-issued BSP coins. File photo by Chrisee Dela Paz/Rappler

Philippine remittances growth slows down in February

Apr 16, 2018 - 4:00 PM

Cash remittances, or remittances formally channeled through banks, register $2.27 billion in February 2018, representing 4.5% year-on-year growth from the same month a year ago

OF REMITTANCES. Cash remittances from land-based workers and sea-based workers increased by 6.4% and 9.8%, respectively, data from BSP showed. Photo by LeAnne Jazul/Rappler

House panel mulls declaring Boy Scouts of the Philippines as NGO

Apr 14, 2018 - 7:14 PM

A technical working group will consolidate 4 bills recognizing the Boy Scouts of the Philippines as an independent, voluntary, and autonomous organization

MEMORIAL. In this file photo, scouts commemorated in 2013 the 20 Boy Scouts and 4 scoutmasters who died in a plane crash in 1963. Photo by Leanne Jazul/Rappler

Philippines starts 2018 with foreign direct investments up by over 50%

Apr 10, 2018 - 6:45 PM

Foreign direct investment inflows reach $919 million in January 2018, up from the $587 million in January 2017

Philippine inflation continues to rise at 4.3% in March

Apr 05, 2018 - 12:27 PM

(UPDATED) Higher price increases are noted in rice, corn, fish, fruits, and vegetables, according to data from the Philippine Statistics Authority

INFLATION. The Philippines' inflation rate accelerates to 3.5% in October 2017. File photo by Jay Directo/AFP

Bank lending, liquidity both up in February

Mar 28, 2018 - 5:25 PM

Bank loans expand by 19.5% in February, pushing domestic liquidity to an estimated P10.7 trillion for the month, according to the Bangko Sentral ng Pilipinas

Inflation concerns weaken consumer sentiment in Q1 2018

Mar 26, 2018 - 9:00 PM

The Bangko Sentral ng Pilipinas says the overall confidence index dropped to 1.7% in the 1st quarter of 2018 from 9.5% in the 4th quarter of 2017, as consumers fear higher prices and low income

LOOK: Newly designed Philippine coins

Mar 26, 2018 - 6:00 PM

The Bangko Sentral ng Pilipinas says the new coins will coexist with the old coins in circulation

PH economy reverts to hot money outflows of $545 million in February

Mar 15, 2018 - 9:35 PM

The Bangko Sentral ng Pilipinas attributes the net outflows to investor concerns over the possibility of a US Federal Reserve rate hike

OFW cash remittances start 2018 strong at $2.37 billion

Mar 15, 2018 - 6:30 PM

Cash remittances or those channeled through banks are up 9.7% from January last year, while personal remittances are also up by 10.8% to $2.65 billion

Record high again for foreign investments in Philippines

Mar 12, 2018 - 3:10 PM

But the growth of foreign direct investments in the Philippines in 2017 was substantially lower than in 2016

With rising inflation, NEDA calls for measures to help the poor

Mar 06, 2018 - 7:25 PM

Socioeconomic Planning Secretary Ernesto Pernia says the government 'must pay closer attention to the poor,' as inflation hits a new 3-year high

Philippine inflation hits new 3-year high at 4.5% in February

Mar 06, 2018 - 10:17 AM

(3rd UPDATE) Higher prices of food and drinks, among others, drive the cost of living up, with inflation at its fastest rate since August 2014

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Mar 02, 2018 - 8:03 PM

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Business confidence drops in first 3 months of 2018

Mar 02, 2018 - 3:58 PM

The overall confidence index of Q1 2018 slips to 39.5% from 43.3% for Q4 2017 due to the initial stages of the tax reform, lower demand, and high oil prices, says the Bangko Sentral ng Pilipinas. However, the BSP says the outlook is brighter for Q2 of this year.

BSP governor recovering from tongue cancer

Feb 25, 2018 - 8:35 PM

But for Bangko Sentral ng Pilipinas Governor Nestor Espenilla Jr, it is 'work as usual,' as he closely monitors peso volatility

CANCER-FREE. Nestor Espenilla Jr says it is 'work as usual’ for the BSP chief. Rappler file photo

5 tourists intercepted at NAIA for carrying P2.4 million

Feb 25, 2018 - 5:20 PM

A person may only carry up to P50,000 into or out of the country. Amounts above P50,000 require written authorization from the Bangko Sentral ng Pilipinas.

BSP Monetary Board member Valentin Araneta dies

Feb 22, 2018 - 7:35 PM

The Bangko Sentral ng Pilipinas will hold a necrological service in his honor on Friday, February 23, at its headquarters

#ThewRap: Videos you need to watch this week, February 12-18, 2018

Feb 18, 2018 - 9:52 AM

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DISINFORMATION. Computer programmer Carlos Nazareno shares how Duterte supporters swarmed the Facebook page of the  International Criminal Court shortly after it announced its probe on the government's war on drugs. Photo by LeAnne Jazul/Rappler

BSP cuts banks' reserve requirement

Feb 15, 2018 - 8:10 PM

The reserve requirement ratio for banks is lowered from 20% to 19%, a move seen to free up liquidity for a growing economy

PH remittances beat gov't target, hit record in 2017

Feb 15, 2018 - 6:25 PM

Cash remittances of overseas Filipinos grow by 4.3% to $28.06 billion, while personal remittances grow by 5.3% to $31.29 billion, surpassing the government target of 4%

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Feb 12, 2018 - 8:17 PM

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Philippines exceeds foreign direct investments target for 2017

Feb 12, 2018 - 3:55 PM

The Bangko Sentral ng Pilipinas attributes the strong inflows to the country's sound macroeconomic fundamentals

BSP maintains interest rates, raises inflation forecast for 2018, 2019

Feb 08, 2018 - 8:35 PM

The Bangko Sentral ng Pilipinas sees inflation hitting 4.3% in 2018, and 3.5% in 2019

BDO makes EMV card shift, to disable old magnetic stripe cards by Feb 1

Jan 25, 2018 - 3:10 PM

The bank encourages customers who still have the magnetic stripe card to have it replaced at BDO branches on or before January 31

MORE SECURE. EMV cards have an embedded chip in them which helps protect against fraud better compared to cards that use the magnetic strip

Philippine remittances for November 2017 grow by only 2%

Jan 15, 2018 - 8:25 PM

The slowdown in growth could be traced to base effects, as the Philippines recorded an 'unusually high' growth in remittances in November 2016