Page 103 - Bsp News Today

The Bangko Sentral ng Pilipinas has raised the bar for consumer protection in line with its broader efforts to promote the welfare of financial consumers.

 

 

A businessman lost P5.75 million to a group of scammers who promised he would receive hundreds of millions worth of shares from the sale of gold bars said to be owned by the late president Ferdinand Marcos and deposited at the Bangko Sentral ng Pilipinas.

Credit growth in the Philippines may slow down to 6.5 percent next year from the projected growth of 8.8 percent this year amid a  spate of rate hikes imposed by the Bangko Sentral ng Pilipinas to tame inflation and stabilize the peso, according to Fitch Ratings.

More speculative funds flowed into the Philippines than what flowed out in October, ending five straight months of net outflows amid improving global conditions, the Bangko Sentral ng Pilipinas reported yesterday.

All-in-one money app Maya is ramping up initiatives to support the thrust of the Bangko Sentral ng Pilipinas (BSP) to transform the country into a cash-lite from a cash-heavy economy.

The tightening cycle of the Bangko Sentral ng Pilipinas may extend up to next year as inflation remained above the government’s two to four percent target, according to Fitch Solutions Country Risk & Industry Research.

The Bangko Sentral ng Pilipinas has ruled out additional huge interest rate hikes after raising key policy rates by a total of 300 basis points.

Credit growth in the Philippines may slow down to a range of five to seven percent next year from the projected seven to nine percent growth rate this year amid the aggressive rate hikes delivered by the Bangko Sentral ng Pilipinas.