Senator Pimentel: “Our bills should be designed in such a way that they can withstand a minimum amount of abuse” SENATOR KOKO PIMENTEL — The opposition senator has asked the Bangko Sentral ng Pilipinas (BSP) to immediately suspend the production of “impractical” 1,000-piso polymer banknotes. Senator Aquilino “Koko” Pimentel III said that the central bank’s … 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
Official statement of SM Supermalls over unaccepted folded P1000 bill issue SM SUPERMALLS – The management of the country’s largest shopping mall has released an official statement over the unaccepted folded P1000 bill issue. This, after a netizen, claimed in a social media post that the said mall did not accept the folded P1000 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
Inflation for the month of June 2022 may peak at 6.5%, according to BSP. BSP — The Bangko Sentral ng Pilipinas said that inflation for the month of June 2022 could hit a high of 6.5% on the back of a weak Philippine Peso versus the United States Dollar and persistent high food prices. On … Read more
Binance: “We are open to any discussion.” BINANCE — The world’s largest crypto exchange said on Thursday that the company is “open to discussions” after a group called for the platform to be banned in the Philippines. To recall, Infrawatch PH called on the Bangko Sentral ng Pilipinas (BSP) to ban Binance, citing the volatility of crypto … Read more
BPI: “Hiking the policy rate gradually in contrast to what the Fed is doing may exacerbate the headwinds affecting the Philippine economy.” BPI — On Thursday, the Bank of the Philippine Islands said that the Bangko Sentral ng Pilipinas (BSP) may increase its benchmark rate by 50 basis points in its meeting next week following … Read more
BSP: “The unnecessary accumulation of banknotes and coins prevents Philippine currency from being recirculated and used as payment instrument.” BSP — The Bangko Sentral ng Pilipinas warned the public that storing their money in containers could cause an “artificial shortage”. On Wednesday, the central bank urged the public to deposit their savings in formal accounts … Read more
BSP: “BSFIs should only deal with gambling and/or online gaming businesses that are allowed to operate by the appropriate government agency.” BSP — On Friday, the Bangko Sentral ng Pilipinas ordered BSP Supervised Financial Institutions (BSFIs) to remove all online sabong operators from the list of merchants in their online apps. The central bank said … Read more