Noticias de dinero

Higher interest rates weigh on BSP income

THE Bangko Sentral ng Pilipinas' (BSP) net profit plunged by almost 60 percent in 2023 from a year earlier as expenses grew faster than revenues, preliminary data showed. The central bank earned P25.53 billion last year based on its unaudited financial statements, 59.9 percent lower than the P63.73 billion recorded in 2022. Revenues of P212.76

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BSP: PH external debt still at ‘prudent levels’

THE country’s external debt ratios remained at manageable levels at the end of last year despite additional borrowings, the Bangko Sentral ng Pilipinas (BSP) said late on Friday. External debt totaled $125.4 billion last year, up from $111.27 billion in 2022. Gross domestic product (GDP), meanwhile, expanded to $436.6 billion in 2024 from the year-earlier

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BSP study notes economic impact of temperature shocks

Climate change, particularly higher temperatures, has a detrimental effect on output growth and persistent inflationary effects, a Bangko Sentral ng Pilipinas (BSP) study found. A discussion paper issued at the end of last year said that on average, a one-degree Celsius rise in annual mean temperature would cut the country’s aggregate output growth by 0.37

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BSP seen taking cues from Fed

INFLATION will be less of a pressing concern in the Philippines, Bank of America (BofA) Global Research said in a report on Monday, adding that rate cuts are expected to start soon. “The latest inflation print is supportive of our view that easing inflation may help shift the tone of the Bangko Sentral ng Pilipinas

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Comply with FATF rules, BSP orders

THE Bangko Sentral ng Pilipinas (BSP) has instructed all financial institutions under its supervision to undertake the necessary measures to help the country get out of the Financial Action Task Force (FATF) “gray” list. In a circular, the central bank told all BSP-supervised financial institutions (BSFIs) to undertake essential actions, including the prompt freezing and

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Inflation to stay within target – BSP poll

ECONOMISTS polled by the Bangko Sentral ng Pilipinas (BSP) expect inflation to remain manageable and stay within target for the foreseeable future. The February round of the central bank’s Survey of External Forecasters (BSEF) resulted in a mean forecast of 3.9 percent for 2024, just under the 2.0- to 4.0-percent target and down from last

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High demand in BSP bill auction

THE Bangko Sentral ng Pilipinas (BSP) said total demand for its 28-day and 56-day debt papers increased to P148.55 billion. In a statement on Friday, the central bank said it continued to lower the total volume offering for the BSP bill auction to P110 billion, with the allocation for the 28-day and 56-day tenors reduced

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BSP, Bundesbank formalize partnership | The Manila Times

THE Bangko Sentral ng Pilipinas (BSP) has formally forged a partnership with the Deutsche Bundesbank to enhance the skills of BSP personnel. Through a memorandum of understanding (MoU) signed on Jan. 22, 2024, the central bank of the Federal Republic of Germany will provide training services, consultation, and advisory assistance for BSP personnel.

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US inflation, BSP move seen influencing market

US inflation data and the result of a Philippine central bank rate-setting meeting will likely drive the stock market’s overall direction this week, analysts said, as these could provide clues as to where interest rates are headed. The 30-company Philippine Stock Exchange index (PSEi), which has now advanced for three straight weeks, ended 2.1 percent

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Noticias de dinero

BSP likely to stay hawkish – analysts

MONETARY authorities are expected to remain cautious and keep key interest rates elevated despite inflation having fallen to well within target last month, analysts said. Consumer price growth was a better-than-expected 2.8 percent in January, having slowed from 3.9 percent in December to near the bottom end of the Bangko Sentral ng Pilipinas’ (BSP) 2.0-

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