Normal working day for BSP, banks on September 21

Sep 20, 2017 - 4:50 PM

The rate-setting meeting of the Bangko Sentral ng Pilipinas' Monetary Board will also push through on Thursday, September 21

BUSINESS AS USUAL. BSP Governor Nestor Espenilla Jr issues memorandum no. M-2017-09, announcing the central bank's clearing and settlement, cash servicing, as well as treasury operations would observe normal operations on Thursday. File photo by BSP

Senate OKs bill requiring economic managers to report to Congress

Sep 19, 2017 - 8:06 AM

The bill will mandate the Department of Finance, National Economic and Development Authority, the Department of Budget and Management, and the Central Bank to report biannually to Congress on fiscal and monetary policies

REPORT. The Senate has passed the bill seeking to require the country's economic managers to report biannually to Congress. Malacañang file photo

August net outflows hit $58M as ghost month begins

Sep 14, 2017 - 8:40 PM

Tensions between the US and North Korea mixed Q2 corporate results and political developments also contribute to investor hesitancy according to the Bangko Sentral ng Pilipinas

P21 minimum wage increase granted to Metro Manila workers

Sep 14, 2017 - 5:50 PM

From P491 minimum wage earners in Metro Manila will now earn P512 starting October

P21 INCREASE. The Metro Manila wage board has granted a P21 increase in the minimum wage of workers. Photo by LeAnne Jazul/Rappler

Consumer confidence declines in PH during Q3 2017

Sep 08, 2017 - 8:53 PM

The Philippines central bank reports the latest overall index remains the 2nd highest since the survey was launched in 2007

Business confidence in PH plunges to 3-year low

Aug 25, 2017 - 11:15 PM

The BSP shows that overall business confidence index for the 3rd quarter of 2017 plunged to 37 9 from 43 in the previous quarter

LESS OPTIMISTIC. Business confidence in the Philippines during this quarter was the lowest percentage recorded since the 3rd quarter of 2014, when confidence index reached 34.4% Rappler file photo

BSP moves to strengthen banks' governance

Aug 22, 2017 - 5:58 PM

The central bank says the amendments to the BSP corporate governance guidelines raise the bar on the expectations from the board of directors and risk management systems of its supervised financial institutions

BSP outlines new rules, penalties for money launderers

Aug 15, 2017 - 8:50 PM

These new rules and penalties will cover all BSP supervised personnel and are designed to ensure that the Philippines shall not be used as a money laundering site

BSP seen to hike interest rates until 2018 – BMI Research

Aug 15, 2017 - 5:30 PM

This is because the global research firm expects Philippine inflation to hit the higher end of the 2017 target

BSP boosts fight vs fake Philippine peso bills

Aug 06, 2017 - 12:59 AM

The Bangko Sentral ng Pilipinas says it has arrested at least 4 suspects accused of faking Philippine peso bills in the first semester of 2017

COUNTERFEITING TOOLS. Actual inventory of the seized/confiscated counterfeit 1000- and 500-peso banknotes, printing machine, scanner and printing paraphernalia found inside the house premises of suspects during the anti-counterfeiting operation on March 10, 2017. Photo by BSP.

Philippine inflation in July edges up

Aug 04, 2017 - 6:15 PM

BSP Governor Nestor Espenilla Jr says the central bank continues to see a manageable inflation outlook over the policy horizon

WITHIN TARGET. The July 2017 inflation remains below the midpoint of the 2% to 4% target set by the Bangko Sentral ng Pilipinas (BSP). Rappler image

BSP to demonetize P100,000 and P2,000 commemorative bills

Aug 01, 2017 - 6:40 PM

These limited edition banknotes will be considered demonetized starting August 1 2019

NUMISMATIC. Nonetheless, holders of the centennial commemorative banknotes may choose to keep the limited edition bills for their numismatic value. Image from BSP

BSP plans to tap artificial intelligence

Jul 27, 2017 - 5:30 PM

The Philippines central bank is using the buzzwords FinTech RegTech and chatbots

ROBOTICS? The Philippines' central bank taps a technology partner to study the possibility of adopting artificial intelligence in its operations. File photo

Senate to discuss fraud case with Metrobank, AMLC, BSP

Jul 25, 2017 - 5:45 PM

Senator Francis Escudero says his committee will review if there is a need to launch a Senate probe into the P900 million internal fraud at Metrobank

CALLED TO EXPLAIN. Metrobank, BSP, and AMLC will need to update the Senate on their probe into the P900-million internal fraud at Metrobank. In the photo is George Ty, the owner of Metrobank. Photo by Alecs Ongcal/Rappler

Chuchi Fonacier is new BSP deputy governor for bank supervision

Jul 23, 2017 - 11:29 PM

Fonacier will fill the post vacated by BSP Governor Nestor Espenilla Jr

NEW CHIEF. Chuchi Fonacier is the first woman to head Bangko Sentral ng Pilipinas' Supervision and Examination Sector. Image from BSP

Banking sector backs Metrobank to pull through P900 M fraud case

Jul 21, 2017 - 8:11 PM

The Bangko Sentral ng Pilipinas says Metrobank is well capitalized enough to deal with the situation although it will conduct an investigation into the bank’s internal controls

OFW cash remittances rebound to hit $2.31B in May

Jul 17, 2017 - 9:00 PM

Total cash remittances are up 4 5 for the first 5 months of the year totaling 11 346 billion

FDI net inflows down 61.1% to $874M in April

Jul 10, 2017 - 6:00 PM

The net inflows total 2 4 billion for January to April this year down 32 compared to the 3 6 billion in the same period a year ago

Favila, Abacan get seats in Bangko Sentral's Monetary Board

Jun 29, 2017 - 6:30 PM

Meanwhile former socioeconomic planning secretary Felipe Medalla retains his position as member of the board

COMPLETE. Medalla (left) retained, Favila (middle) and Abacan (right) named new members of the Monetary Board. Favila and Abacan photos from GT Capital

BSP maintains interest rates in Tetangco's final Monetary Board meeting

Jun 22, 2017 - 6:20 PM

While global economic conditions remain challenging outgoing BSP Governor Amando Tetangco Jr says prospects for domestic economic activity continue to be firm

RATES KEPT. BSP Governor Amando Tetangco Jr says the central bank is keeping the overnight borrowing rate at 3%. Screenshot from BSP YouTube page

Peso breaches $1 to 50 mark again

Jun 20, 2017 - 6:54 PM

It is a reaction to external developments particularly the hawkish statements of Fed officials overnight says BSP Governor Amando Tetangco Jr

$544M of hot money flows out of PH in first 5 months of 2017

Jun 18, 2017 - 10:20 PM

A net total of 543 79 million in foreign portfolio investments flows out in contrast to the 178 million in net inflows for the January May period last year

Philippine stocks, peso down on another U.S. Fed hike

Jun 15, 2017 - 8:45 PM

The US Federal Reserve s decision to raise the benchmark interest rate for the 2nd time this year is the primary market mover on Thursday June 15

ANTICIPATED. The US Federal Reserve's decision to raise interest rates for the second time this year is a move widely expected by economists and investors. Rappler file photo

OFW cash remittances at 15-month low in April

Jun 15, 2017 - 6:20 PM

This is the lowest level cash remittances have totaled since registering 1 997 billion in January 2016

BPI assures clients: You'll get your money back

Jun 07, 2017 - 10:13 AM

UPDATED This is simply a glitch The amount will be restored by the end of the day says BPI president and CEO Cezar Consing

BPI GLITCH..Customers check their account after learning that their account was debited on BPI Branch in Manila. Photo by Inoue Jaena/Rappler

BSP to probe cash, checks found in Marawi house

Jun 06, 2017 - 8:45 PM

Experts from the Bangko Sentral ng Pilipinas will scrutinize the money being linked to the Maute Group

Photo by Carmela Fonbuena/Rappler

BSP keeping close watch over Middle East developments

Jun 06, 2017 - 5:45 PM

BSP Deputy Governor Nestor Espenilla Jr says it is too soon to draw anything from this but it bears close watch

4TH BIGGEST. There are as many as 260,000 Filipinos living in Qatar as of January 2017, making it the fourth biggest group of foreign workers in Qatar. Rappler file photo

Inflation eases to 4-month low in May

Jun 06, 2017 - 3:15 PM

A 3 1 inflation rate is recorded in May – the lowest since the consumer price index averaged 2 7 last January

LOWER. A customer buys garlic at a market in Manila on August 5, 2014. Philippine inflation eases to 4-month low in May this year. Photo by AFP

BSP sees slightly lower inflation in May

May 27, 2017 - 9:00 AM

The Bangko Sentral ng Pilipinas attributes this to lower oil prices and electricity rates

OFFSET. On the other hand, Tetangco says higher rice prices could partly offset the impact of declining oil prices and cheaper power rates. Rappler file photo

Philippine peso, stock market stable despite martial law declaration

May 24, 2017 - 10:15 PM

BSP Governor Amando Tetangco Jr points out however that there may be temporary cautiousness in the next few days

RCBC pays Bangladesh Bank heist fine in advance

May 23, 2017 - 8:20 PM

The listed bank fully settles its record P1 billion fine for non compliance with banking laws and regulations in connection with the 81 million Bangladesh Bank money laundering scandal

COMING CLEAN. The logo of the RCBC bank is seen at the RCBC building in Manila's financial district on March 11, 2016. The bank owned by the late taipan Alfonso Yuchengco launched numerous initiatives to reinforce its anti-money laundering (AML) framework. File photo by AFP

#ThewRap: Things you need to know, May 17, 2017

May 17, 2017 - 11:20 AM

Hello Here s a roundup of news you need to know this Wednesday

Senator Alan Peter Cayetano answers questions from members of the media during an ambush interview following the recommendation by the Commission on Appointments Foreign Affairs Committee of his confirmation as DFA Secretary at the Office of the Senate in Pasay City on Wednesday. Photo by Lito Boras

BSP to banks: Don't pay ransomware attackers

May 16, 2017 - 9:30 PM

While no Philippine bank was affected in the global ransomware attack the Bangko Sentral ng Pilipinas issues guidelines on dealing with cyber criminals and protecting sensitive data

OFW cash remittances up 10.7% in March

May 15, 2017 - 11:20 PM

Total cash remittance flows for the 1st quarter of 2017 reach 6 953 billion up 7 7

Espenilla's target: Break new ground for financial inclusion

May 13, 2017 - 2:39 PM

Incoming BSP Governor Espenilla says It’s easy because essentially I’m here doing a job… Our mandate is clear and our constituency is clear: I serve the public

Bangko Sentral ng Pilipinas New Governor Nestor Espenilla speaks with the members of media during press briefing at BSP Complex in Manila. Photo by Inoue Jaena/Rappler

Why Espenilla was chosen new BSP governor

May 13, 2017 - 12:57 PM

Former Central Bank governor Jose Cuisia has these to say about BSP s Amando Tetangco Nestor Espenilla and Diwa Guinigundo

#ThewRap: Things you need to know, May 12, 2017

May 12, 2017 - 11:00 AM

Hello Here are the stories you shouldn t miss this Friday

BSP maintains policy rates, inflation forecast

May 11, 2017 - 11:25 PM

There is only one more policy meeting left before Bangko Sentral ng Pilipinas Governor Amando Tetangco Jr hands over the reins to his successor

RATE KEPT. BSP Governor Amando Tetangco Jr says the central bank is keeping the overnight borrowing rate at 3%. Screenshot from BSP YouTube page

EXPLAINER: Why is the role of BSP governor important?

May 10, 2017 - 6:40 PM

The recent appointment of Nestor Espenilla Jr was considered one of the most crucial decisions for President Rodrigo Duterte Here s why

LEADER. The last time a new BSP Governor was appointed was in 2005, Rappler takes a look at why this role is important.

#ThewRap: Things you need to know, May 10, 2017

May 10, 2017 - 10:20 AM

Hello Here s a roundup of news you need to know this Wednesday

Espenilla promises continuity, more financial innovation at BSP

May 09, 2017 - 9:10 PM

The new governor of the Bangko Sentral ng Pilipinas outlines his plans to maintain the country s monetary stance as well as expand the debt market and digital payments

Bangko Sentral ng Pilipinas New Governor Nestor Espenilla speaks with the members of media during press briefing at BSP Complex in Manila. Photo by Inoue Jaena/Rappler

Philippine bankers cheer Espenilla's appointment

May 09, 2017 - 6:16 PM

UPDATED Outgoing BSP Governor Amando Tetangco Jr and most bankers got what they asked and hoped for: an insider with years of central banking experience

ESPENILLA. Nestor Espenilla Jr is the next Bangko Sentral ng Pilipinas (BSP) Governor. Photo by Inoue Jaena/Rappler

FAST FACTS: What does the Bangko Sentral ng Pilipinas do?

May 09, 2017 - 1:05 PM

Nestor Espenilla Jr has just been named BSP governor Rappler takes a look at the role of the BSP as Espenilla steps in along with some of the issues he may face ahead

NEW CAPTAIN. The BSP welcomes a new governor - Nestor Espenilla Jr.

Who is new BSP governor Nestor Espenilla?

May 08, 2017 - 8:35 PM

President Rodrigo Duterte picks technocrat Nestor Espenilla Jr as the new Philippine central bank chief replacing world acclaimed Amando Tetangco Jr

Presidential Spokesperson Ernesto Abella looks on as Finance Secretary Carlos Dominguez III congratulates newly-appointed Bangko Sentral ng Pilipinas (BSP) Governor at Malacañan Palace on May 8, 2017. RICHARD MADELO/PRESIDENTIAL PHOTO

Duterte appoints Espenilla as BSP governor

May 08, 2017 - 7:35 PM

UPDATED A very wise choice after a thorough evaluation of the future needs of the country and of all the candidates says Finance Secretary Carlos Dominguez III

NEW APPOINTEE. President Rodrigo Duterte shakes hands with next Bangko Sentral ng Pilipinas (BSP) Governor Nestor Espenilla Jr on May 8, 2017. Malacañang photo

ASEAN+3 agree to boost financial cooperation amid global risks

May 05, 2017 - 9:53 PM

ASEAN Japan South Korea and China agree on the Yokohama Vision which serves as guiding principles for a more resilient and integrated ASEAN 3

BUFFERS ENOUGH. Philippine Finance Secretary Carlos Dominguez III says ASEAN has enough buggers to withstand global risks. Photo by ADB

Inflation remains steady in April

May 05, 2017 - 6:09 PM

Inflation remains unchanged at 3 4 in April bringing the average inflation in the first 4 months of the year to 3 2

UNCHANGED. A street vendor counts Philippine peso currency in Manila on September 13, 2012. Photo by Jay Directo/AFP

Bank lending grows by 19.7% in March

May 02, 2017 - 10:25 PM

Domestic liquidity is also up 11 2 year on year to P9 5 trillion although this is slightly slower than the 12 6 in February

OFW cash remittances hit $2.169B in February

Apr 17, 2017 - 7:00 PM

Remittance flows for the first two months of the year stand at 4 338 billion up by 5 9 compared to the same period last year

Housing prices outside Metro Manila still rising

Apr 02, 2017 - 11:30 PM

Condominium units are the most commonly purchased in the National Capital Region while single detached houses are dominant in the provinces