BSP hints resumption of rate hikes

THE Bangko Sentral ng Pilipinas (BSP) on Wednesday hinted it may resume its tightening cycle, possibly using both the policy rate and reserve requirement if liquidity continued to increase and threaten the inflation outlook. BSP Deputy Gov. Diwa Guinigundo said the two successive hikes in key rates have resulted in a weak pass-through of around … Continue reading BSP hints resumption of rate hikes →

Hot money inflows more than double in 1H

HOT money inflows grew more than two-fold in the first six months of the year on the back of continued investor risk appetite in Philippine securities and fixed income investments, the central bank said on Thursday. In a statement, the Bangko Sentral ng Pilipinas (BSP) said foreign portfolio investments yielded a net inflow of $9.1 … Continue reading Hot money inflows more than double in 1H →

1H forex reserves near full-year goal

THE country’s foreign exchange reserves surged in the first half of the year owing to continued inflows arising from the operations and investments abroad of the Bangko Sentral ng Pilipinas. In a statement, the BSP said the country’s gross international reserves jumped 42 percent to $69 billion at end-June, compared with $48.7 billion in the … Continue reading 1H forex reserves near full-year goal →

Barclays expects another hike in BSP policy rates

By Lailany P. Gomez, Reporter Barclays Capital said the Bangko Sentral ng Pilipinas (BSP) may continue with its tightening stance in the next meeting amid the uptrend in core prices and lingering pressures on inflation expectation. Prakriti Sofat, Barclays economist, said in a commentary that given the acceleration in core inflation, the BSP will raise … Continue reading Barclays expects another hike in BSP policy rates →

Express Savings Bank placed under receivership

The Monetary Board of the Bangko Sentral ng Pilipinas has placed Express Savings Bank Inc. under receivership of the Philippine Deposit Insurance Corp. By virtue of MB Resolution 987-B dated July 7, 2011, PDIC, as the receiver, took over the bank on July 8, 2011. A four-unit bank based in Laguna, its head office is … Continue reading Express Savings Bank placed under receivership →