Page 88 - Bsp News Today

The non-performing loan ratio of Philippine banks increased for the first time in 10 months amid a slower credit growth after a series of aggressive rate hikes by the Bangko Sentral ng Pilipinas to tame inflation and stabilize the peso.

Higher interest rates brought about by the aggressive hikes delivered by the Bangko Sentral ng Pilipinas are unlikely to significantly affect the asset quality of Philippine banks, according to Fitch Ratings.

The maximum annual contribution to the voluntary retirement contributions has been doubled as part of the government’s efforts to encourage more Filipinos to prepare for retirement, according to the Bangko Sentral ng Pilipinas.

Demand for the government’s short-term securities declined for the sixth consecutive week amid signals of continued rate hikes from the Bangko Sentral ng Pilipinas as inflation remains stubbornly high.

Bank lending is expected to further slowdown in the coming months, with companies opting to pursue modest expansion plans due to higher borrowing cost, according to an economist.

China’s Green Development in the New Era: Extensive Application of Green Production MethodsChinas State Council Information Office released

Monetary authorities may opt for another aggressive 50-basis-point hike in key policy rates this month if inflation breaks past the nine-percent mark in February, according to Bangko Sentral ng Pilipinas Governor Felipe Medalla.

And when the BSP and the government talks about getting inflation back down into its target range of 2% to 4%, that’s relative to insanely high price levels that we have right now.

The Bangko Sentral ng Pilipinas is confident of achieving the targets under its digitalization and financial inclusion roadmap this year as it continues to ramp up various initiatives.

BSP, banks to study cuts in e-payment fees