Page 96 - Bsp News Today

The Philippines booked a net inflow of foreign portfolio investments or speculative funds amounting to $886.7 million last year, reversing the net outflow of $574.5 million recorded in 2021.

The recent lifting of the interest rate ceiling on credit cards by the Bangko Sentral ng Pilipinas is seen boosting the interest earnings of Philippine banks by as much as P40 billion, according to Fitch Ratings.

The International Monetary Fund is helping the Bangko Sentral ng Pilipinas improve the indicators in assessing the real estate and credit market conditions in the country.

BSP approves 3% cap on credit card rate

Foreign borrowings approved by the Bangko Sentral ng Pilipinas declined for the second straight year, as the Philippines continues to recover from the impact of the COVID-19 pandemic.

Aside from soaring prices of basic commodities, Filipino consumers are set to face another burden after the Bangko Sentral ng Pilipinas raised the interest rate cap on credit card transactions starting next month.

The country’s balance of payments deficit swelled to a record-high $7.3 billion in 2022, as the elevated global commodity prices brought about by geopolitical tensions further widened the gap between imports and exports.

Pic Story: A nurse in white gownLiu Jie, a millennial, is a head nurse in charge o

The Bangko Sentral ng Pilipinas may raise key interest rates by at least 75 basis points more for this year as inflation is seen hitting the upper end of the target band only by the fourth quarter.