tetangco - updates

Rappler's latest stories on tetangco

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Tetangco, Mendoza quit Philippine Airlines board

Dec 06, 2019 - 7:45 PM

The resignation of Amando Tetangco Jr and Estelito Mendoza will be taken up in the Philippine Airlines' next board of directors meeting, according to the company's corporate secretary

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

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

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 Bangko Sentral governor important?

May 10, 2017 - 6:40 PM

(UPDATED) The governor of the central bank should stay independent from politics. What are the other important roles of a BSP governor?

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

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

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

Inflation to rise until Q3 of 2017 – BSP

Mar 28, 2017 - 10:52 PM

Despite global risks iinflation remains manageable and will fall within the target range by yearend says outgoing BSP chief Amando Tetangco Jr

BSP keeps policy stance, cuts inflation forecast

Mar 23, 2017 - 9:15 PM

The Bangko Sentral ng Pilipinas lowers its inflation outlook for 2017 and 2018 to 3 4 and 3 respectively

WIDELY EXPECTED. Bangko Sentral ng Pilipinas Governor Amando Tetangco Jr says the US Federal Reserve rate hike is widely expected and already priced in. Screenshot from BSP Youtube page

Who should be next BSP chief? Tetangco prefers 'insider'

Mar 14, 2017 - 5:08 PM

Expertise familiarity and patience are the top 3 qualities Amando Tetangco Jr look for in his successor

COA to BSP's Tetangco: Return excess allowance

Mar 01, 2017 - 3:58 PM

BSP executives receive a P6 000 P9 500 per diem for every meeting they attend instead of the P1 000 per meeting allowed by law

Duterte's PDP-Laban backs EastWest Bank head for BSP governor

Feb 13, 2017 - 12:25 AM

Antonio Moncupa Jr who also heads the PDP Laban policy think tank gets the endorsement of the ruling party

Inflation seen at 2.3%-3.2% in January – BSP

Jan 26, 2017 - 2:35 PM

Higher domestic prices of fuel as well as excise tax adjustments for alcoholic beverages and tobacco products would likely affect prices of basic goods and services

UPSIDE PRESSURES. Higher domestic prices of gasoline, diesel and LPG as well as the excise tax adjustments for alcoholic beverages and tobacco products would likely exert upside price pressures

5 reasons the gold shipment complaint vs Aquino is a joke

Jan 07, 2017 - 7:53 AM

Wrong documents wrong dates wrong government posts are cited

In Perito and Cantora's affidavit, Mar Roxas is Secretary of Department of Nutrition and Local Government and Leila De Lima is Secretary of Department of Finance.

Duterte on martial law, Central Bank, Tropical Storm Nina | Midday wRap

Dec 23, 2016 - 1:57 PM

Watch Rappler s midday newscast with Maria Ressa

BSP maintains monetary policy, inflation targets

Dec 22, 2016 - 8:25 PM

The Bangko Sentral ng Pilipinas keeps the inflation target for 2017 and 2018 at 3

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

MBC supports Tetangco’s extension as BSP governor

Nov 29, 2016 - 4:36 PM

The premier business club throws its weight behind President Duterte’s wish to amend the law to allow Tetangco to serve an unprecedented 3rd term

BSP to intervene if there's too much forex volatility

Nov 23, 2016 - 7:40 PM

We just need to further enhance our surveillance and continue to build buffers because there are many moving parts in the external sector in the global economy says BSP chief Amando Tetangco Jr

NOT UNIQUE. BSP says that the weakness of the peso is not unique to the Philippines as other emerging market currencies are also weakening due to the strength of the greenback. Rappler file photo

BSP chief Tetangco open to possible 3rd term

Nov 23, 2016 - 5:58 PM

Let us cross the bridge when we get there BSP Governor Amando Tetangco Jr says about the offer which requires an amendment of the BSP Charter

ASIA'S BEST. The Banker names Philippine central bank governor Amando Tetangco Jr. as Asia's best. AFP file photo

Philippines maintains monetary policy; cuts inflation forecasts

Aug 11, 2016 - 8:45 PM

The BSP trims inflation forecasts for this year and the next to 1 8 from 2 and to 2 9 from 3 1 respectively

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

BSP: New system to shorten check clearing process to a day

Jul 13, 2016 - 7:30 AM

The new system will eliminate transport risks on the physical checks said Tetangco It will also address consumer protection issues that may come about from stolen or otherwise altered checks

BANGKO SENTRAL NG PILIPINAS. File photo from BSP

BSP's Tetangco is 2015's highest paid gov’t official

Jul 05, 2016 - 8:01 PM

GSIS general manager Robert G Vergara who was government’s top earner in 2012 and 2013 is second with P13 449 million in earnings

File photo from the Bangko Sentral ng Pilipinas

Gov't unsatisfied with Fitch's PH credit rating

Apr 08, 2016 - 8:30 PM

The Philippines is still underrated as it outperforms its neighbors in Southeast Asia in terms of economic growth drivers Finance Secretary Cesar Purisima says

UNDERRATED. Financial markets believe the Philippines is much less of a credit risk compared with other countries enjoying higher credit ratings. Image from Shutterstock

OFW remittances in December hit record high at $2.7B

Feb 20, 2016 - 10:30 AM

Although potential layoffs threaten the Saudi labor market OFW remittances last December surge by 4 9

RECORD HIGH. The continued deployment of skilled OFWs remains a key factor to the growth in remittance inflows, BSP says

Philippines gets credit rating upgrade from NICE

Jan 23, 2016 - 9:54 AM

With this latest credit rating action from NICE Fitch Ratings remains the only agency that assigns the minimum investment grade to the Philippines

UP A NOTCH. The upgrade anchors on improved government transparency and enhanced environment backed by expanded infrastructure

PH foreign exchange reserves up in December

Jan 07, 2016 - 7:15 PM

The government s net foreign currency deposits BSP s forex operations and income from investments abroad contribute to the rise in reserves

AMPLE. The end-December gross international reserves level remains ample as it can cover 10.3 months’ worth of imports of goods and payments of services and income, the Bangko Sentral ng Pilipinas says. File photo by Agence France-Presse

PH 2015 inflation settles at 1.4%

Jan 05, 2016 - 4:06 PM

While expected it is still below the government s 2015 target of 2 4 but upward price movements push December inflation to 1 5

EXPECTED. Favorable supply-side factors such as relatively lower domestic retail prices of corn, oil, and rice, lower international oil prices, and the contraction in the prices of housing and other utilities contribute to full-year 2015 inflation of 1.4%.

Despite US Fed decision, BSP keeps interest rates unchanged

Dec 17, 2015 - 6:58 PM

Gov t officials say there s no need to worry about the US Fed interest rate hike as the Philippines has sound macroeconomic fundamentals

UNCHANGED. The central bank’s Monetary Board has decided to keep interest rates steady amid the firm domestic demand conditions and benign inflation environment. File photo from BSP

Foreign direct investments surge 123.4% in Sept

Dec 11, 2015 - 3:31 PM

But despite hitting a record high of 1 5B for that month it is still down 5 5 in 9 months this year

SURGE. BSP Governor Amando Tetangco Jr. says foreign direct investments surge in September on the back of the country’s sustained gross domestic product growth, benign inflation environment, healthy foreign exchange reserves, and stable foreign exchange rate. File photo by Agence France-Presse

BSP eyes expanding e-payments by 2020

Dec 10, 2015 - 5:40 PM

The National Retail Payment System will facilitate the country’s shift from a cash heavy to a cash lite economy

INCREASE. BSP Governor Amando Tetangco Jr. says the share of electronic payments currently is only 1%, thus BSP is looking at increasing the share of e-payments to 20% over the next 5 years with the roll out of the National Retail Payment System.

PH foreign exchange reserves down in November

Dec 07, 2015 - 7:00 PM

Following a record high in October gross international reserves decline due to higher foreign debt payments and lower gold prices in the world market

LOWER. BSP Governor Amando Tetangco Jr. says the country’s foreign exchange reserves reached $80.57 billion in end-November or $525 million lower compared to $81.09 billion in October. File photo by Agence France-Presse

BSP eyes increasing yuan investments

Dec 02, 2015 - 5:26 PM

Investing in the yuan remains an option for the central bank in line with its diversification policy

OPTION. But investing in the yuan continues to be an option for the BSP, in line with its diversification policy to enhance the returns of international reserves, as well as to diversify the currency composition, BSP Governor Amando Tetangco Jr says. File photo from Agence France-Presse

Remittances grow 4.3% in September after August setback

Nov 16, 2015 - 8:58 PM

Cash sent home by Filipinos abroad grew 4 3 to 2 2 billion in September

Inflation steady at 0.4% in October

Nov 05, 2015 - 4:41 PM

The current low inflation environment is expected to continue throughout 2015 due to ample food supply and low oil prices says NEDA chief Arsenio Balisacan

WITHIN TARGET. “Our current runs show inflation is possibly bottoming out, and it will gradually move to within target range in 2016 and 2017,” BSP Governor Amando M. Tetangco Jr says in a text message.

BSP to change P100 bill color in 2016

Oct 26, 2015 - 11:14 AM

The new P100 will have a different shade – mauve from bluish gray – but will have the same design

No asset bubble in PH, BSP says

Oct 21, 2015 - 7:16 PM

UPDATED The increase in property prices and the growth in the sector has essentially been demand driven BSP Governor Amando Tetangco Jr says

NO BUBBLE. “Right now, we believe that there is no asset bubble in the property sector," BSP Governor Amando Tetangco Jr. tells participants of the 2015 Public Governance Forum (which concluded Wednesday, October 21). File image from Shutterstock

What will stimulate PH economy until 2050?

Oct 01, 2015 - 2:19 PM

The Philippine economy can post an average growth of over 7 in the next 10 years – with quality workforce and an attractive investment climate

URBAN DECAY. Economic officials say infrastructure development in the Philippines is important to post an average GDP growth of 7% for the next 10 years. File photo

Fitch raises PH outlook to positive

Sep 24, 2015 - 10:24 PM

The Philippines is still underrated as it continues to outperform its single A rated neighbors in Southeast Asia Finance Secretary Cesar Purisima says

POSITIVE. The revised credit outlook and the likely credit rating upgrade from Fitch Ratings are a reflection of what financial markets say all along about the Philippines’ creditworthiness, Finance Secretary Cesar Purisima says.

For the 8th time, key interest rates still unchanged

Sep 24, 2015 - 7:30 PM

The benign inflation outlook also provides ample room to keep monetary policy settings unchanged at this time

BSP likely to maintain interest rates - Standard Chartered

Sep 21, 2015 - 9:11 AM

The BSP is likely to gauge market reaction to the US Fed’s decision to keep interests rates before making a move

PH external debt falls first half of 2015

Sep 18, 2015 - 9:00 PM

The central bank chief traces the decline to negative foreign exchange revaluation adjustments amounting to 2 6 billion as the US economy continues to gradually recover

LOWER. Bangko Sentral ng Pilipinas (BSP) Governor Amando Tetangco Jr. says on Friday, September 18 that the country’s external debt reached $75 billion from January to June this year – $3.6 billion lower compared to $78.59 billion in the same period in 2014. Photo from the Bangko Sentral ng Pilipinas

PH peso likely to breach P47:$1

Aug 26, 2015 - 7:32 PM

The local currency could head toward P47 40 to P47 50 in the absence of global response to emerging markets risks and stability an analyst says

For the 7th time, BSP chief hailed one of the world's top central bankers

Aug 25, 2015 - 7:10 PM

Amando Tetangco Jr has been graded A by NY based Global Finance magazine along with 7 other central bank chiefs worldwide

 Photo from Bangko Sentral ng Pilipinas

PH peso falls P46.82:$1

Aug 24, 2015 - 7:00 PM

This is the lowest in 5 years

Remittances hit $12.08B, highest in June

Aug 17, 2015 - 7:45 PM

Cash sent home by overseas Filipinos in June grew 6 1 to 2 18 billion – the highest since December when Filipinos abroad sent home 2 32 billion to their families

PH peso rebounds from 3-day losing streak

Aug 13, 2015 - 7:28 PM

The exchange rate remains flexible and market determined BSP Deputy Governor Diwa Guinigundo says

BSP maintains policy rates, lowers inflation forecast

Aug 13, 2015 - 6:16 PM

Given firm domestic demand the BSP apparently considers that the Philippine economy does not require additional stimulus from monetary policy