BSP: “The inflation target remains at risk over the policy horizon owing to broadening price pressures.” BSP — On Thursday, the Bangko Sentral ng Pilipinas said that the Monetary Board decided to hike policy rates by 50 basis points (bps) effective August 19. As such, the overnight deposit facility has increased to 3.25%, the overnight … Read more
BSP: “The public should exercise caution, conduct their own due diligence, and always be mindful of the risks prior to engaging with VA-related activities.” BSP — The Bangko Sentral ng Pilipinas recently warned the public against unregistered and foreign virtual assets. The central bank has issued a strong public warning against unregistered and foreign VASPs … Read more
BSP said that the regular application window for new VASP licenses will be closed for 3 years. BSP — The Bangko Sentral ng Pilipinas said that the regular application window for new VASP (virtual asset service provider) licenses will be closed for 3 years starting September 1, 2022. In Memorandum Order M-2022-035 signed by BSP … Read more
BSP warned the public anew against smishing scams. BSP — The Bangko Sentral ng Pilipinas recently warned the public anew against smishing or SMS phishing scams. In an advidory on Tuesday, the central bank warned against links being sent via text messages as those could automatically download malware and/or redirect to sites that collect information … Read more
The BSP chief said that the inflation print for July “raises the probability of a 50 basis points rate hike rather than 25 basis points.” BSP — Bangko Sentral ng Pilipinas Governor Felipe Medalla said that the inflation print for July raised the possibility of a 50 bps (basis points) rate hike in the Monetary … Read more
GoTyme Bank has secured the Certificate of Authority from BSP. GOTYME BANK — The Gokongwei-backed digital bank has secured the Certificate of Authority from the Bangko Sentral ng Pilipinas (BSP). GoTyme Bank has secured the necessary license from the central bank to operate as a digital bank by completing the final stage in establishing operations … Read more
BSP: “Public investment in satellite communications may enable access to financial services almost universal.” BSP — The Bangko Sentral ng Pilipinas is calling for a higher public investment in satellite communications to upgrade and modernize the Philippines’ IT infrastructure. During an ASEAN-5 central banks’ virtual discussion on cross-border payments, BSP Governor Felipe M. Medalla said … Read more
BSP: “Folded banknotes, whether paper or polymer, can still be circulated and accepted for payment.” BSP — The Bangko Sentral ng Pilipinas has released a statement over the unaccepted folded 1000-Piso polymer banknote issue. To recall, a netizen expressed her disappointment after her folded polymer banknote wasn’t accepted at an establishment. At that time, she … Read more
BSP Governor Felipe Medalla: “BSP is prepared to raise its policy rate by 50 basis points in August.” BANGKO SENTRAL NG PILIPINAS — BSP Governor Felipe Medalla said that the central bank is “prepared” to increase its policy rate by 50 basis points (bps) in August. According to Medalla, the central bank is closely monitoring … Read more
Felipe Medalla has sworn in as the 6th governor of Bangko Sentral ng Pilipinas. FELIPE MEDALLA — Microeconomist Felipe M. Medalla has officially sworn in as the sixth governor of Bangko Sentral ng Pilipinas (BSP). Medalla took his oath of office in Malacanang on June 30, after the inauguration of President Ferdinand “Bongbong” Marcos Jr., … Read more