In a significant development for the Philippine financial sector, President Ferdinand R. Marcos, Jr. has recently appointed veteran banker Walter C. Wassmer to the Bangko Sentral ng Pilipinas (BSP)’s Monetary Board (MB). President Marcos Jr. (left), and veteran banker Walter C. Wassmer (right) With a distinguished career spanning several decades, Wassmer’s expertise is set to […]
The Philippine Monetary Board, at its meeting earlier this week, has decided to retain the Bangko Sentral ng Pilipinas (BSP)’s Target Reverse Repurchase (RRP) rate at 6.5 per cent. Thus, the interest rates on the overnight deposit and lending facilities shall remain at 6 and 7 per cent, respectively. IMAGE CREDIT: https://www.facebook.com/photo/?fbid=790097026486140&set=a.224721136357068 According to the […]
More funds could soon be entering the country this 2024 but the same may probably not be maintained, leading to a possible deficit position in 2025. This is one of the predictions made by the Philippine Monetary Board after it approved the latest set of 2024 and 2025 Balance of Payments (BOP) projections in a […]
Due to its location in the Pacific region, the Philippines has often experienced the adverse consequences of El Niño — a natural climate pattern characterized by warmer-than-average sea surface temperatures in the Pacific Ocean. This phenomenon disrupts global weather patterns, leading to extreme weather events, temperature variations, and other environmental changes. With its predicted return […]
For the period October to December 2023, the Philippine Monetary Board has approved seven (7) public sector medium-to-long-term (MLT) foreign borrowings totalling US$3.32 billion. The said amount is 65.8% (US$1.32 billion) higher than the US$2 billion MLT foreign borrowings approved for the same period last year. IMAGE CREDIT: https://www.adb.org/what-we-do/ Meanwhile, public sector foreign borrowings approved […]
President Ferdinand R. Marcos, Jr. has recently designated Finance Secretary Ralph G. Recto as Cabinet representative to the Monetary Board (MB), the highest policy-making body of the Bangko Sentral ng Pilipinas (BSP). BSP Governor Eli M. Remolona, Jr. (left), chairperson of the Philippine Monetary Board, is shown here while administering Secretary Recto’s oath of office […]
The Monetary Board, the policy-making arm of the Bangko Sentral ng Pilipinas (BSP), is proposing that capital requirements for Islamic banks be made similar to conventional banks. Once approved, this figure could range between P3 billion to P20 billion, depending on how many branches would be put up. “No final decision yet. Consultations are ongoing,” […]
