Page 92 - Bsp News Today

The Bangko Sentral ng Pilipinas reiterated on Friday that it was necessary to inject a jumbo rate increase or else risk fanning inflation expectations.

After kicking off the year with a 50-basis-point interest rate hike, the Bangko Sentral ng Pilipinas is expected to further raise key policy rates by another 25 to 50 basis points next month to bring inflation back to within the two to four percent target and anchor inflation expectations. In an interview with Bloomberg Television, BSP Governor Felipe Medalla has ruled out the possibility of a hefty 75-bp hike in the next rate-setting meeting of the Monetary Board  scheduled on March 23.

The BSP raised rates by another 50 basis points last Thursday. Despite all the tightening, inflation remains a persistent foe. It is forecast to run at about 6.1 percent this year.

BSP steps up interest rates anew to 6%

E-wallet giant GCash has secured the approval of the Bangko Sentral ng Pilipinas to offer its financial technology services abroad even for users without a Philippine SIM.

The Bangko Sentral ng Pilipinas remained hawkish as it raised key policy rates by another 50 basis points yesterday to hit its highest level in almost 16 years, a strong follow-through monetary policy response as inflation is now expected to accelerate further to above six percent this year.

The Australia and New Zealand Banking Group Ltd. sees the Bangko Sentral ng Pilipinas hiking rates by a total of 100 basis points this year amid a long drawn monetary policy tightening to tame inflation.

Dollars sent home by overseas Filipino workers hit an all-time high last year after a strong finish in December amid soaring inflation, according to the Bangko Sentral ng Pilipinas.

Philippine equities ended Tuesday with losses, as investors await the Bangko Sentral ng Pilipinas’ next step to fight inflation that unexpectedly got even hotter in January.

Local share prices continued to drop yesterday as investors await the meeting of the Bangko Sentral ng Pilipinas Monetary Board later this week.