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Banking & Finance

End-January 2018 GIR Level Settles at $81.2 Billion

Preliminary data showed that the country’s gross international reserves (GIR) level as of end-January 2018 slid marginally to US$81.2 billion from the end-December 2017 GIR of US$81.6 billion, Bangko Sentral ng Pilipinas (BSP) Governor Nestor A. Espenilla, Jr. announced today.1 At this level, the GIR represents more than ample liquidity buffer and is equivalent to 8.2 months’ worth of imports …

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Monetary Board Holds Policy Rate Steady

At its meeting on monetary policy today, the Monetary Board decided to maintain its policy rate, the interest rate on the Bangko Sentral ng Pilipinas (BSP’s) overnight reverse repurchase (RRP) facility, steady at 3.0 percent. The corresponding interest rates on the overnight lending and deposit facilities were also kept unchanged.

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PSEi, peso take a beating Friday

Risk-off sentiment overseas impacted on the Philippine Stock Exchange index (PSEi) and the peso Friday.

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Economist: BSP’s January ‘18 forecast may worry market

An economist of ING Bank Manila said the Bangko Sentral ng Pilipinas’ (BSP) inflation forecast for January 2018, at 3.5 to 4 percent, may concern the market since the upper end is already higher than the central bank’s 3.2 percent average projection for the year.

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Metrobank nets P18.2-B in 2017

By Leslie Gatpolintan Net income of Metropolitan Bank & Trust Company (Metrobank) rose 10-percent to PHP18.2 billion in 2017, Metrobank President Fabian Dee reported Thursday to the Philippine Stock Exchange (PSE) Thursday.

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‘Peso is just fine’: – BSP Governor

By Joann Villanueva Bangko Sentral ng Pilipinas (BSP) Governor Nestor A. Espenilla Jr. said the peso “is just fine” amid its recent weakness and stressed that the currency’s performance only reflected current market environment.

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TRAIN impact on inflation expected

By Joann Villanueva Impact of the first tax reform package on inflation is “more or less as expected” but Bangko Sentral ng Pilipinas (BSP) officials continue to monitor developments to be able to make the necessary adjustments if needed.

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WB, AIIB to co-finance $500M anti-flood project

The boards of the World Bank and the Asian Infrastructure Investment Bank (AIIB) has approved the co-financing for the $500-million Metro Manila Flood Control Management Project paving the way for its start this month, the Department of Finance (DOF) said.

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Robinsons Bank, Pru Life ink strategic partnership

By Riza Lozada Gokongwei group-led Robinsons Bank and British life insurer Pru Life UK recently entered a strategic bancassurance partnership in a distribution agreement signing held at Crowne Plaza Galleria Manila.

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Saving money means rewarding OFW kin

Saving habits mean a lot to relatives working abroad.

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