Page 112 - Bsp News Today

The research units of Fitch and Moody’s Groups sees the Bangko Sentral ng Pilipinas delivering more rate hikes until December to tame inflation and stabilize the peso.

More companies are planning to expand their operations in the fourth quarter despite the decline in the country’s business confidence index due to elevated inflation and volatile financial markets, according to the Bangko Sentral ng Pilipinas.

The validity of the lower credit risk weighting for loans for micro, small and medium enterprises has been extended by another six months to further encourage banks to lend more to the sector badly affected by the COVID-19 pandemic, according to the Bangko Sentral ng Pilipinas.

DBS Bank Ltd. of Singapore sees the Bangko Sentral ng Pilipinas (BSP) raising interest rates by at least 75 basis points more this year as it continues to combat rising inflation.

Business and consumer confidence fell in the third quarter on the back of elevated inflation, rising fuel prices, the weak peso as well as higher household expenses and lower income, according to the Bangko Sentral ng Pilipinas.

The Bangko Sentral ng Pilipinas and the Bankers Association of the Philippines continue to foster digitalization in the country as more Filipinos embrace electronic channels in their daily lives.

The Bangko Sentral ng Pilipinas will be more active in the foreign exchange market as the peso slumped to a new record low of 58.50 to a dollar yesterday from Thursday’s 58.49:$1. In an interview with Bloomberg Television in New York, BSP Governor Felipe Medalla said the central bank has been active in the foreign exchange market and would be even more active to smoothen the volatility of the peso against the dollar.

Economists see more rate hikes for the remainder of the year as the Bangko Sentral ng Pilipinas intensifies efforts to tame soaring inflation and stabilize the peso.

It's all about our furry friends. Bring your dogs to this fabulous fall event at Island Beach State Park. A dog expo, dog displays, a doggie dress-up parade, and so much more.

The peso continued its downward spiral yesterday, shedding another 49 centavos to settle at an all-time low of 58.49 to a dollar from Wednesday’s 58 to $1 after the US Federal Reserve unveiled a third straight huge 75-basis-point rate hike followed by a 50-basis-point increase by the Bangko Sentral ng Pilipinas.