Banking & Insurance
CIMB PH launches next generation, high interest time deposit product
CIMB Bank Philippines, cited by Forbes as the Best Bank in the Philippines, has expanded its product offering with the launch of the new MaxSave Time Deposit product. The service offers the highest interest rate in the market of up to 7.5 percent per annum.
Strong demand for 10-year bonds allows BTr to open tap facility, upsize bond issue
Strong demand for 10-year government bonds at the auction Tuesday allowed the Bureau of the Treasury to open its tap facility to borrow more funds for budgetary support.
Remolona says rates to ‘stay sufficiently tight’
Reuters - Monetary policy would have to remain "sufficiently tight" with inflation currently forecast to stay above its 2 percent to 4 percent target, making a rate cut at its next meeting unlikely, Bangko Sentral ng Pilipinas governor Eli Remolona said on Monday.
Recto joins MB as Cabinet representative
President Ferdinand R. Marcos, Jr. has designated Department of Finance (DOF) Secretary Ralph G. Recto as Cabinet representative to the monetary board (MB), the highest policy-making body of the Bangko Sentral ng Pilipinas (BSP).
Yields on treasury bills allowed to rise at auction; P15B offer attracts strong bids
The Bureau of the Treasury continued to allow treasury bill yields to rise at Monday’s auction, with demand for short-term debt paper still strong.
