The Philippines News Magazine
Manila, Philippines – The Philippines’ foreign exchange reserves declined on September, bringing its sufficiency to meet the country’s needs in times of distress down to a level not seen since the global financial crisis of 2008. According to the Bangko Sentral Read More …
Manila, Philippines — Costlier debt servicing due to rising interest rates and exchange rate volatility is the biggest concern faced by the economy, and financial authorities are now planning to introduce “interventions” to manage risks arising from credit. “What is Read More …
Manila, Philippines — The Bangko Sentral ng Pilipinas (BSP) said earnings from the business process outsourcing (BPO) and tourism sectors may book double-digit growths this year. The BSP said export revenue in BPO services may grow 10 percent to $24.4 Read More …
Manila, Philippines – The Bangko Sentral ng Pilipinas (BSP) warned the public that it has not issued any P10,000 bill series, a photo of which was recently seen circulating the social media. The BSP clarified that such P10,000 bill does not Read More …
Manila, Philippines – Monetary authorities on Wednesday raised key interest rates further to contain rising inflation. The Bangko Sentral ng Pilipinas’ (BSP) policy-setting Monetary Board raised its benchmark interest rate by 25 basis points, bringing the BSP’s overnight borrowing, lending, and deposit Read More …
Manila, Philippines – The country will likely post a substantially higher balance of payments (BoP) deficit this year, the Bangko Sentral ng Pilipinas (BSP) announced on Thursday. A greater current account deficit could lead to an overall BoP deficit of $1.5 Read More …
Manila, Philippines — More short-term foreign funds exited than entered the Philippines in May, reflecting market jitters in the face of higher US government debt yields and a depreciating peso, the Bangko Sentral ng Pilipinas reported on Thursday. Registered foreign Read More …
Manila, Philippines — For the first time in nearly four years, the Bangko Sentral ng Pilipinas on Thursday lifted key rates to tame rising consumer prices, which may still overshoot the government’s target range amid strong economic growth. During the Monetary Read More …
Manila, Philippines – The country’s balance of payments (BoP) position reverted to a deficit in January amid bigger outflows due to debt payments and as the central bank smoothed out foreign currency swings. The Philippines posted a $531-million BoP deficit Read More …