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VOTING 20-0-0, the Senate on Monday approved on third and final reading a bill that will amend the Centenarians Act of 2016 by distributing the P100,000 cash gift much earlier to senior citizens aged 80, 90 and 100.
MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) has shown bias toward a more restrictive policy and a higher-for-longer approach to interest rates after signaling the resumption of its tightening cycle as early as November amid upside risks to inflation, economists said.
Financial markets tumbled last week after the Federal Reserve’s (Fed) latest policy meeting. Though the Fed kept its policy settings steady, Fed Chair Jerome Powell’s statement was more hawkish than what investors had expected. The US dollar index (DXY) gained 0.4 percent since the Fed meeting last Wednesday. The S&P 500 fell 2.8 percent in three consecutive down days. Bonds tanked as US Treasury yields jumped to their highest levels since 2007.
MANILA, Philippines — The increase in loans disbursed by big banks slowed for the fourth straight month in July amid high borrowing costs after a series of aggressive interest rate hikes, according to the Bangko Sentral ng Pilipinas (BSP).
NEW YORK, United States — Global stock markets diverged Friday as investors contemplated central bank signals that interest rates will remain high to combat stubborn inflation.
MANILA, Philippines — ING Bank cuts below five percent its 2023 economic growth forecast for the Philippines due to the further pickup in inflation as well as the possibility of additional interest rate hikes to be delivered by the Bangko Sentral ng Pilipinas (BSP).
MANILA, Philippines — A possible rate hike in November may not be the last with the expected higher-for-longer interest rate environment amid more upside risks to inflation, according to Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona Jr. In an interview aired on Bloomberg Television, Remolona said monetary authorities are not convinced that the possible rate hike in the next rate-setting meeting on Nov. 16 would be the last. “It won’t be the last hike in the cycle, we’re not convinced of that
MANILA, Philippines — Filipino consumers and business turned more optimistic for the fourth quarter, according to the results of the latest surveys conducted by the Bangko Sentral ng Pilipinas (BSP).