Banking & Insurance
T-bill rates average mostly higher at auction
Treasury bill yields were largely higher at the auction Tuesday, just days after the Federal Reserve held U.S. interest rates steady after an unexpectedly unchanged inflation in May.
Net exodus of Q1 foreign investments help moderate BOP surplus of only $238 million
The balance of payments (BOP), or what is left of the country's foreign currency earnings minus its foreign currency expenses, stood as a surplus of only USD238 million in the first three months this year, sharply lower than the year-earlier surplus of USD3.5 billion.
Foreign debt nudges higher to $128.7 billion
The country's foreign obligations increased by 2.6 percent in the first three months this year or by USD3.3 billion on the back of greater private sector borrowings, mostly private lenders requiring foreign financing in pursuit of their corporate goals.
BPI taps app-based mobile wallet to bring products, services closer to more Filipinos
Filipinos can now conveniently apply for Bank of the Philippine Islands (BPI) products directly at select Pay&Go kiosks nationwide, following the announcement of a new partnership between the two companies.
Fed keeping US rates steady may force BSP to delay rate cuts to 2025
The decision by the Federal Reserve to hold US interest rates steady following May's inflation data, which came unexpectedly unchanged, could have dimmed expectations for a rate cut by the Bangko Sentral ng Pilipinas during its August policy meeting.
