Benjamin Diokno: “It is an honor to serve the Filipino people in my current and any future capacity.” BENJAMIN DIOKNO — Here’s what the BSP chief said after being chosen as finance secretary of President-elect Bongbong Marcos. Diokno is Bongbong’s pick to lead the Department of Finance (DOF). He was supposed to serve as Bangko … Read more
BSP: “The next tranches of the polymer banknotes are expected to be issued starting September 2022” BSP — The Bangko Sentral ng Pilipinas will circulate the next batch of 1000-piso polymer banknotes in September in order to complete a planned issuance of 158.4 million pieces this year. The central bank said in an email to … Read more
BSP hikes its policy rates by 25 basis points amidst quickening inflation. BSP — The Bangko Sentral ng Pilipinas raised its key policy rates by 25 basis points to 2.25% amidst quickening inflation. The Bangko Sentral ng Pilipinas followed other central banks around the world which have also raised interest rates in an attempt to … Read more
BSP: “Digital collection of payments will expedite transactions, generate savings for the government and the public, and reduce the risk of graft and corruption.” BSP — Here’s what the Bangko Sentral ng Pilipinas said after President Rodrigo Duterte issued an executive order allowing the adoption of digital payments for government collections and disbursements. On Tuesday, … Read more
BSP is set to fill up the 5th slot for the position of deputy governor. BSP — The Bangko Sentral ng Pilipinas is set to fill up the 5th slot for the position of deputy governor in order to take charge of the central bank’s expanding presence across the Philippines. On Friday, Monetary Board member … Read more
Diokno: “The BSP continues to explore ML applications that can be useful in the conduct of its key functions.” BANGKO SENTRAL NG PILIPINAS — BSP Governor Benjamin Diokno said that the central bank’s big data use will increasingly apply machine learning (ML) applications or techniques such as natural language processing, nowcasting, and banking supervision. Machine … Read more
BSP: “The new 1000-Piso polymer banknote is only worth its face value.” BSP — On Friday, the Bangko Sentral ng Pilipinas advised the public that the new 1000-piso polymer banknote is not for sale as it releases the banknotes gradually in circulation. The central bank said in a statement that the polymer banknote is “only … Read more
BSP: “The 20-Piso NGC and enhanced 5-Piso coins are legal tenders.” BSP — On Tuesday, the Bangko Sentral ng Pilipinas warned the public against buying the 5-Piso and 20-Piso coins at higher prices from online sellers as both coins are still in circulation. According to the central bank, there were 290.09 million pieces of the … Read more
BSP: “The BSP continuously reminds the public that e-safety is everyone’s responsibility.” BSP — On Monday, the Bangko Sentral ng Pilipinas urged the public to use available security features and to practice cyber hygiene in order to avoid becoming victims of fraudulent activities. The central bank said in a statement that consumers should enable “multiple … Read more
BSP: “We are aware that inflation is likely to remain elevated in the coming months due mainly to domestic and global supply-side pressures.” BSP — The Bangko Sentral ng Pilipinas said that the Philippine consumer prices are expected to go up faster than expected in the second half of 2022 given movements in global prices. … Read more