Page 125 - Bsp News Today

The Philippines recorded its widest balance of payments deficit in 15 months at $1.61 billion in May, 2.6 times the $415 million shortfall recorded in April as the national government settled more foreign debt, according to the Bangko Sentral ng Pilipinas.

The Bangko Sentral ng Pilipinas is likely to deliver another 25-basis-point rate hike as it opts for a gradual tightening, short of the more aggressive 50-basis-point increase projected by most economists.

The Bangko Sentral ng Pilipinas is evaluating the country’s currency mix as the use of banknotes and coins, particularly low-denomination currencies, continue to taper off as more Filipinos embrace digitalization.

The Philippines booked a double-digit rise in external debt to $109.75 billion in end March this year from $97.05 billion in the same month last year as the national government borrowed more to fund COVID-19 response measures and bankroll much needed infrastructure projects.

Treasury yields for 10-year bonds may spiral to as much as 7.4 percent this week, as investors anticipate the Bangko Sentral ng Pilipinas to deliver an aggressive 50 basis points hike.

After the US Fed raised its benchmark rate by 75 basis points, the Bangko Sentral ng Pilipinas is expected to respond with a 50-basis-point rate hike to protect the peso from the pressures of monetary tightening abroad.

The Bangko Sentral ng Pilipinas has extended a prudential relief for banks and financial institutions on the treatment of losses arising from the sale or transfer of bad assets.

Browning sausage gives these baked beans a wonderful extra punch of flavor and adds heartiness to the dish. These baked beans are an easy way to spice up canned beans

The Bangko Sentral ng Pilipinas is committed to bring down the level of deposits that big banks should maintain by the fourth quarter.

Foreign direct investments in the Philippines showed stability in the first quarter, growing by two percent amid risks such as the war in Eastern Europe and monetary tightening worldwide.