Banking & Insurance
BPI sets aside P3 billion in affordable housing loans
The Bank of the Philippine Islands has allocated P3 billion with its entry in the socialized and affordable housing segment of the market.
Strong foreign investments in July reverse previous trends
Foreign investments registered with the Bangko Sentral ng Pilipinas through authorized agent banks posted net inflows of USD1.38 billion in July, helped by funds invested in government securities and stocks listed on the Philippine Stock Exchange.
BSP notes moderate price pressures in August; inflation forecast as low as 3.2%
The monetary authorities project inflation, or the rate of change in prices, to moderate in August from a low of 3.2 percent to no more than 4 percent. This compares with headline inflation averaging 4.4 percent in July.
Government selling triple-tranche global bonds for budget support
The government has started its second external issuance of 2024, seeking to raise at least USD500 million from a triple-tranche fixed-rate US dollar global bond with maturities of 5.5 years, 10.5 years, and 25 years, primarily for budget support.
Fitch Ratings downgrades further PH growth outlook to 5.8%
Sovereign credit watcher Fitch Ratings has downgraded further the country’s output growth, or the gross domestic product (GDP), to 5.8 percent this year as part of its assessment on the government’s plan to sell US dollar- and euro-denominated bonds.
