Page 130 - Bsp News Today

Even without across-the-board loan forgiveness, many people are already entitled to have...

Inflation likely breached the government’s two to four percent target range, which may   finally prompt the Bangko Sentral ng Pilipinas to hike interest rates and join other centralbanks in the tightening cycle as early as May, according to economists.

The Bangko Sentral ng Pilipinas is giving banks and financial institutions a two-month extension for the submission of their 2021 audited financial statements and other accompanying reports due to the sudden surge of COVID cases brought about by the more contagious Omicron variant early this year.

Inflation in April likely accelerated further from a six-month high of four percent in March, nearing its highest level in over three years, due to mounting price pressures – from oil and electricity to meat and fish, the  Bangko Sentral ng Pilipinas said.

The Philippines may join the global rate hike cycle led by the US Federal Reserve as early as June, as the country continues to rebound from the pandemic-induced recession, according to Bangko Sentral ng Pilipinas Governor Benjamin Diokno.

The Bangko Sentral ng Pilipinas aims to circulate 500 million pieces of the polymer version of the P1,000 banknotes by 2023 as part of the ongoing limited circulation test.

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The country’s largest banks continue to take a hit from the interest rate cap imposed by the Bangko Sentral ng Pilipinas on credit card charges for more than a year.

Philippine banks are expecting increased loan demand from companies and households in the current quarter amid easing COVID restrictions and increasing economic activity, according to the results of a survey conducted by the Bangko Sentral ng Pilipinas =.

The Philippines is on its way to a full economic recovery from a recession caused by the pandemic despite the recent surge in cases in China as well as the impact of Russia’s invasion of Ukraine, according to Bangko Sentral ng Pilipinas Governor Benjamin Diokno.