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BSP keeps eye on US Fed moves

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The revelation that most top officials of the US Federal Reserve favor a tapering off in its monthly $85-billion bond buying program this year will weigh heavily on local policymakers’ minds when they meet next month to possibly adjust monetary settings.

Posted: August 23rd, 2013 in Headlines | Read More »

New legal rate of interest

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Last week, the Monetary Board—the country’s policy-making body on money, banking and credit—changed the legal rate of interest for loan and credit agreements.

Posted: July 5th, 2013 in Columnists,Inquirer Columns | Read More »

Ongpin girds for battle, sells PBCom stake

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Businessman Roberto Ongpin  INQUIRER FILE PHOTO

Former Trade Minister Roberto V. Ongpin sold his stake in Philippine Bank of Communications, citing the need to make a “financial sacrifice” and spare the bank from any backlash that could arise from his legal battle with a ranking central bank official.

Posted: January 6th, 2013 in Editor's Pick,Headlines | Read More »

Monetary Board opts to keep key policy rates steady

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The Bangko Sentral ng Pilipinas on Thursday kept key interest rates unchanged from their historic low levels, believing no adjustment is needed at the moment given the high economic growth and low inflation that the country now enjoys.

Posted: December 14th, 2012 in Editor's Pick,Headlines | Read More »

Bangko Sentral open to further rate cut

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bsp-logonew

The Bangko Sentral ng Pilipinas is open to further slashing its key policy rates, which recently have been brought to new record lows.

Posted: August 3rd, 2012 in Editor's Pick,Headlines | Read More »

BSP, Monetary Board ask 3 CA justices to inhibit from Banco Filipino case

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The Bangko Sentral ng Pilipinas (BSP) and the Monetary Board (MB) has asked three Court of Appeals justices hearing the case of the Banco Filipino Savings and Mortage Bank to inhibit themselves from the case.

Posted: March 14th, 2012 in Latest Business Stories | Read More »

BSP cuts interest rates to 4% for overnight borrowing, 6% for lending

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The Bangko Sentral ng Pilipinas has cut its key policy rates by another 25 basis points, citing the need to counter potential ill-effects of lingering global economic problems on the Philippines.

Posted: March 1st, 2012 in Latest Business Stories | Read More »

Ex-BSP exec Armando Suratos gets seat in Monetary Board

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MANILA, Philippines—President Aquino has appointed long-time career central bank executive Armando Suratos to the Monetary Board, Presidential Spokesman Edwin Lacierda announced on Tuesday. Aquino appointed Suratos on September 9. He replaces Juanita Amatong, whose term expired on July 3, and will stay on until July 3, 2017. Suratos was Bangko Sentral ng Pilipinas deputy governor [...]

Posted: September 14th, 2011 in Latest Business Stories | Read More »

LBC Bank placed under receivership

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Logo taken from http://www.lbcbank.com.ph

LBC Development Bank, a unit of the LBC Group, has been placed under receivership of the Philippine Deposit Insurance Corp. (PDIC).

Posted: September 11th, 2011 in Latest Business Stories | Read More »

BSP keeping current interest rates in view of slow economic growth

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Bangko Sentral ng Pilipinas. BSP.GOV.PH

MANILA, Philippines—The Bangko Sentral ng Pilipinas kept interest rates at current levels during the meeting of its Monetary Board on Thursday, believing another move to control liquidity would be imprudent given the slower-than-expected growth of the economy in the first semester. With the decision, the BSP’s overnight borrowing and lending rates, which influence commercial interest [...]

Posted: September 8th, 2011 in Featured Gallery,Latest Business Stories | Read More »

One more policy rate hike this year seen

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Monetary authorities are expected to keep policy rates unchanged when they meet Thursday, as the rate of consumer price increases eased last month, according to the DBS Group. Even then, the Singapore-based group said in a new research note that another 25 basis-point hike later this year—which would be third such step for 2011—“cannot be [...]

Posted: September 8th, 2011 in Headlines | Read More »

BSP, Monetary Board need not give P25-B aid to Banco Filipino

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The Court of Appeals on Friday reversed the decision of the Makati City Regional Trial Court that ordered the Bangko Sentral ng Pilipinas (BSP) and the Monetary Board to provide up to P25 billion in financial assistance to the now closed Banco Filipino Savings and Mortgage Bank.

Posted: July 29th, 2011 in Latest Business Stories | Read More »

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