New SDA rate cut possible
By Michelle V. Remo
As speculations abound that the interest rate on special deposit accounts (SDAs) would be slashed further, the Bangko Sentral ng Pilipinas said it could not rule out another rate cut.
As speculations abound that the interest rate on special deposit accounts (SDAs) would be slashed further, the Bangko Sentral ng Pilipinas said it could not rule out another rate cut.
Governor Amando Tetangco Jr. of the Bangko Sentral ng Pilipinas (BSP) was named “Central Banker of the Year” for Asia Pacific by the foreign business magazine The Banker.
The SM group isn’t too eager to celebrate—at least not yet—its latest milestone.
Domestic financial markets are expected to be volatile in the coming days as investors become more anxious over the US “fiscal cliff,” said Amando Tetangco Jr., Bangko Sentral ng Pilipinas governor. But the BSP chief stressed that the volatility would be short-lived, and financial markets in the Philippines would eventually focus on the country’s [...]
Over 300 financial education experts and policy-makers around the world have convened in town for a two-day summit tackling financial capability as a 21st century life skill, putting emphasis on the need to reach out to young people.
Bangko Sentral ng Pilipinas Governor Amando Tetangco Jr. was one of the busiest officials at the recently concluded World Bank-International Monetary Fund annual meetings in Tokyo, Japan, not only because of several appointments with his foreign peers, but also because of many awards.
New York-BASED business magazine Global Finance has named Governor Amando Tetangco Jr. of the Bangko Sentral ng Pilipinas one of the best central bank heads in the world for 2012, giving him a grade of “A” together with five others.
The rate of increase in the prices of basic commodities is expected to settle between 2.1 and 3 percent this month, due mainly to the softening of oil prices in the world market and the slight appreciation of the peso against the US dollar, according to the Bangko Sentral ng Pilipinas.
The Bangko Sentral ng Pilipinas has cut its key policy rates by a quarter of a percentage point, a move intended to boost the growth of the domestic economy and counter the adverse impact of a prolonged debt crisis in Europe.
The Bangko Sentral ng Pilipinas expects inflation to average below 4 percent in 2012, saying the benign increase in consumer prices should help encourage higher spending by individuals and enterprises.
