BSP Says Inflation Could Hit 7.9% This Month

BSP

BSP: “The BSP will continue to monitor closely emerging price developments” BSP — The Bangko Sentral ng Pilipinas said that inflation could surpass 13-year highs this month given the higher commodity prices during the month. On Monday, the central bank projects inflation to settle within the 7.1% to 7.9% range this month, higher than the … Read more

BSP Says Polymer Banknotes Available In Select ATMs

1000-piso polymer banknote

BSP: “POLYMER-READY na ang mahigit 2,000 na ATMs sa buong Pilipinas!” BSP — The Bangko Sentral ng Pilipinas announced that polymer banknotes can already be withdrawn in selected automated teller machines (ATMs). The central bank said in a tweet on Thursday that the 1000-piso polymer banknotes can already be withdrawn in some 2,425 ATMs in … Read more

BSP Reminds Public To Use, Accept Coins For Payments

BSP coins

BSP: “All denominations of the BSP Coin Series and the New Generation Currency Coin Series are legal tender” BSP — The Bangko Sentral ng Pilipinas recently reminded the public to use and accept coins for payments. On Wednesday, the central bank said coins that are currently in circulation are legal tender and should be accepted … Read more

DFA Says Printed Digital Version Of National ID Accepted For Passport Applications

ePhilID

DFA: “The public is advised that the details in the printed ePhilID must be clear, readable, and contain the same details as the presented documentary requirements during the passport application” DFA — The Department of Foreign Affairs announced that the printed digital version of the national ID can now be used and accepted in applying … Read more

Monetary Board Raises BSP Key Policy Rate By 50 Basis Points

BSP

The Monetary Board raised the BSP key policy rate by 50bps. The Monetary Board raised the key policy rate of the Bangko Sentral ng Pilipinas (BSP) anew by 50 basis points (bps). On Thursday, the central bank raised its policy rate by 50bps hours after the US Federal Reserve (Fed) announced another aggressive rate hike. … Read more

Medalla Says BSP Policy Rate “Still Accommodative”

BSP Governor Felipe Medalla

Medalla: “Despite the normalization of policy settings, our policy rate is still accommodative” BSP Governor Felipe Medalla said that the central bank’s policy rate is “still accommodative” despite the normalization of policy settings. According to him, interest rate environment that still has some room for adjustment as the Bangko Sentral ng Pilipinas (BSP) pledged to … Read more

BSP and SEC Seek Clearer Regulations On Digital Assets

BSP and SEC

BSP and SEC are seeking clearer regulations on digital assets BSP and SEC — The Bangko Sentral ng Pilipinas and the Securities and Exchange Commission are seeking clearer regulations on digital assets in order to protect consumers. This was raised during a meeting with the Senate Committee on Banks, Financial Institutions and Currencies as lawmakers, … Read more

BSP Says Monetary Board Decides To Hike Policy Rates By 50 Basis Points

BSP

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 Warns Public vs Unregistered, Foreign Virtual Assets

virtual asset

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