Tag: BSP
-
Philippine Treasury Fully Allocates T-bill Auction Amid Rising Yields
In Manila, the Bureau of the Treasury (BTr) successfully met all bids for Treasury bills (T-bills) in Monday’s auction. The auction saw 91-day, 182-day, and 364-day T-bills being sold at average rates of 5.329 percent, 5.672 percent, and 5.754 percent, respectively. These rates show a slight increase from the previous week’s averages of 5.318 percent,…
Written by
-
Philippine Central Bank Solely Manages National Gold Reserves
MANILA – The Bangko Sentral ng Pilipinas (BSP) announced on Monday that it exclusively manages the Philippines’ gross international reserves (GIR), which include gold. The central bank’s primary goal is to ensure the stability and convertibility of the Philippine peso and to fulfill any anticipated foreign currency demands. The BSP emphasized that the GIR is…
Written by
-
Philippine Central Bank Slashes Reserve Requirements to Boost Economic Growth
The Bangko Sentral ng Pilipinas (BSP) has announced a significant reduction in the reserve requirement ratio (RRR) for various financial institutions, effective from March 28, 2025. This move is aimed at enhancing the flow of funds into more productive sectors of the economy. Universal and commercial banks, along with non-bank financial institutions with quasi-banking functions…
Written by
-
Philippines Records Significant Balance of Payments Deficit in January
The Philippines experienced a substantial balance of payments deficit amounting to USD4.1 billion in January, according to the Bangko Sentral ng Pilipinas (BSP). This figure marks a significant increase from the USD740 million deficit reported in January of the previous year. The balance of payments is a comprehensive record of a nation’s economic interactions with…
Written by
-
Bangko Sentral ng Pilipinas Maintains Steady Policy Rates Amid Global Uncertainty
On February 13, 2025, the Bangko Sentral ng Pilipinas (BSP) announced that it would keep its policy rates unchanged, a decision influenced by the prevailing global economic uncertainties. Governor Eli Remolona Jr. shared this during a press briefing at the BSP’s Manila office, emphasizing that the Monetary Board’s decision to maintain the target reverse repurchase…
Written by
-
Philippine Banks’ Non-Performing Loan Ratio Hits One-Year Low
In Manila, the non-performing loan (NPL) ratio for Philippine banks dropped to its lowest point in a year, reaching 3.27 percent in December of the previous year. According to the Bangko Sentral ng Pilipinas (BSP), this figure marks the lowest NPL ratio since it was at 3.24 percent in December 2023. The ratio had been…
Written by
-
Philippine Banks’ Non-Performing Loans Hit One-Year Low
In a positive turn for the Philippine banking sector, the ratio of non-performing loans (NPLs) to total loans dropped to a one-year low of 3.27 percent in December of the previous year. This figure, reported by the Bangko Sentral ng Pilipinas (BSP), marks the lowest NPL ratio since it stood at 3.24 percent in December…
Written by
-
Philippine Money Supply and Bank Lending Surge in December 2024
The Bangko Sentral ng Pilipinas (BSP) announced a significant rise in the nation’s money supply, known as M3, for December 2024. The money supply grew by 7.7% to reach PHP18.8 trillion, up from PHP17.4 trillion the previous year. On a month-to-month basis, M3 saw a slight increase of 0.2% from PHP18.1 trillion in November 2024.…
Written by
-
Foreign Direct Investment in the Philippines Surges to $8.6 Billion in 2024
MANILA – The Bangko Sentral ng Pilipinas (BSP) reported a 4.4% increase in net foreign direct investment (FDI) inflows, totaling $8.6 billion from January to November 2024, compared to $8.2 billion in the same period of the previous year. FDIs are investments where a foreign entity holds at least 10% equity in a local company,…
Written by
-
Finance Secretary Optimistic About Economic Growth as Inflation Stays Low
Finance Secretary Ralph Recto expressed optimism about the Philippine economy’s future, citing the country’s stable inflation rate as a key factor that could lead to further interest rate cuts by the Bangko Sentral ng Pilipinas (BSP). According to the Philippine Statistics Authority, the nation’s headline inflation held steady at 2.9 percent, while core inflation, which…
Written by