Tag: BSP
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Philippine reserves ease to USD103.3B in July
The Philippines’ gross international reserves (GIR) fell to USD103.3 billion at the end of July from USD104.7 billion a month earlier, while the country posted a USD1.5-billion balance of payments (BOP) deficit, reflecting continued pressure from external transactions.
Digital payments hit target as Filipinos shift from cash
Digital payments accounted for nearly two-thirds of retail transactions in the Philippines last year, putting the country within its national target range and underscoring how quickly electronic payments are replacing cash in everyday commerce.
RCBC joins BSP-backed Direct Debit PH payment system
Rizal Commercial Banking Corp. (RCBC) is among the first banks to join Direct Debit PH, a new automated recurring payment facility championed by the Bangko Sentral ng Pilipinas (BSP) to modernize the country’s payments system and accelerate the shift toward a cash-lite economy.
BSP sees elevated inflation shaping 2027 budget
The Bangko Sentral ng Pilipinas expects inflation to remain elevated in 2027, with the government adopting a 4 percent to 5 percent inflation assumption in crafting the proposed national budget amid continued global and domestic price risks.
Metrobank adds new safeguards as digital scams evolve
Metropolitan Bank & Trust Co. is strengthening its digital banking defenses with new security features designed to give customers greater control over their money as fraudsters become more adept at exploiting stolen credentials and human error.
