Banking & Finance

July Inflation Rises to 6.4 Percent

Headline inflation increased to 6.4 percent year-on-year in July from 6.1 percent in the previous month. This was within the BSP’s forecast range of 5.6-6.4 percent for July. The resulting year-to-date average inflation of 4.7 percent is above the Government’s average inflation target range of 2.0-4.0 percent for 2022. Meanwhile, on a month-on-month seasonally adjusted basis, inflation slowed down to 0.6 percent …

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BSP Governor Medalla Welcomes DOF Chief Diokno to Monetary Board

Bangko Sentral ng Pilipinas (BSP) Governor Felipe M. Medalla (left) administers the oath of office to Department of Finance Secretary Benjamin E. Diokno as President Ferdinand R. Marcos, Jr.’s designated Cabinet member representative to the Monetary Board (MB). Secretary Diokno, who was previously the MB Chairman and Governor of the BSP, is the sixth member of the central bank’s policy-making body chaired by BSP Governor Medalla.

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LANDBANK launches ’PISO’ account for unbanked Filipinos

Students, public utility vehicle drivers, vendors, household helpers, farmers, fishers, and other unbanked and underserved Filipinos can now open a LANDBANK PISO account with just P1.00 as minimum initial deposit. The Land Bank of the Philippines (LANDBANK) offers a new product to help bring more unbanked and underserved Filipinos—including students, public utility vehicle drivers, vendors, household helpers, farmers, and fishers—into …

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Residential real estate prices continue to rise in Q1 2022

Nationwide residential property prices up by 5.6% YoY, but edge lower by 1% QoQ in Q1 2022 The residential real estate prices of various types of new housing units in the Philippines maintained its growth momentum in Q1 2022.[1] The Residential Real Estate Price Index (RREPI) rose by 5.6 percent from a year ago, but declined by 1 percent from …

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Consumers pick ‘Strongest’ Metrobank as ‘Most Helpful’ in Philippine’s COVID times

The past two years have been tough for everyone. And when times get tough, financial institutions have it in their best interest to be at their strongest, in order to provide the most help for their clients.  Based on a leading consumer survey covering the Asia Pacific (APAC) region, Metropolitan Bank and Trust Co. (Metrobank) was indeed a pillar of …

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BSP Assistant Governor Amenah Pangandaman named incoming DBM Secretary

Assistant Governor (AG) Amenah F. Pangandaman, who also serves as Chief of Staff to the Governor, Executive Offices Coordinator, and Concurrent Head of the Strategic Communication and Advocacy, has accepted the invitation of President-elect Ferdinand Marcos, Jr. to serve as the incoming Secretary of the Department of Budget and Management (DBM). “It is my honor to serve the Filipino people during this critical …

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Philippines external debt ratios remain at prudent levels in Q4 2021

Bangko Sentral ng Pilipinas Governor Benjamin E. Diokno reported that the Philippines’ outstanding external debt (EDT) remains at a prudent level as its ratio to Gross Domestic Product (GDP) recorded at 27.0% at end-December 2021. The ratio remains one of the lowest as compared to other ASEAN member countries. The country’s EDT expressed as a percentage of GDP is a …

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BSP encourages pinoys to save for retirement through PERA

The Bangko Sentral ng Pilipinas (BSP) encourages Filipinos to take full advantage of the benefits offered under the Personal Equity and Retirement Account (PERA).  “Compared to other retirement and investment products, PERA provides contributors or investors exclusive tax benefits which enable them to accumulate their retirement savings at a faster pace,” according to BSP Governor Benjamin E. Diokno. Income earned from PERA …

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BSP Statement on the Implications of the Russia-Ukraine War on the Philippine Economy

The BSP remains vigilant over the possible implications of the unfolding Ukraine-Russia conflict on the Philippine economy. We expect the ongoing conflict to continue to exert upward pressures on key international commodity prices, particularly oil and wheat. Meanwhile, the ongoing conflict could also cloud prospects for global trade and investment, as uncertainty spills over into financial markets through higher volatility …

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BSP Governor identifies economic priorities for the next president

Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno (top) said that the next administration should continue to prioritize investments in infrastructure, human capital, healthcare, and agriculture to ensure economic continuity during the Manila Times Economic Forum. The BSP will retain its macroeconomic strategy irrespective of the election result and will work with the new administration to sustain the recovery. …

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