Tag: BSP
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BSP makes preemptive quarter-point rate hike on inflation risks
The Bangko Sentral ng Pilipinas on Thursday delivered a preemptive 25-basis-point rate hike and left the door open to further tightening as stubborn inflationary pressures threaten to keep prices above the central bank’s target range.
Moody’s affirms Philippine rating despite growth slowdown
Moody’s Ratings affirmed the Philippines’ Baa2 sovereign credit rating on Monday, citing expectations that the government’s fiscal position will stabilize over the next two years despite a sharp slowdown in economic growth.
Treasury bill yields rise ahead of BSP meeting
Treasury bill yields were mostly higher at Monday’s auction as investors appeared to price in the possibility of tighter monetary policy ahead of the Bangko Sentral ng Pilipinas’ interest rate-setting meeting later this week.
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.
