THE GOVERNMENT fully awarded the reissued 10-year Treasury bonds (T-bonds) it auctioned off on Tuesday at a lower average rate amid robust demand, which led it to open its tap facility. The Bureau of the Treasury (BTr) raised P35 billion as planned from its offer of reissued 10-year securities that have a remaining life of […]
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BSP ready to act as inflation seen below 4% in 2023
MANILA – The governor of the Philippine central bank on Friday reiterated its readiness to act to combat inflation, which it said could fall below 4% next year. At a business forum, Bangko Sentral ng Pilipinas (BSP) Governor Felipe M. Medalla said there was a chance for inflation to return within the central bank’s 2-4% […]
Fed officials stay resolute on need to make policy more restrictive
A TRIO of US Federal Reserve officials from across the policy spectrum signaled on Tuesday that they and their colleagues remain resolute and “completely united” on getting US interest rates up to a level that will more significantly curb economic activity and put a dent in the highest inflation since the 1980s. Moreover, one of […]
Gov’t fully awards 10-year bonds as demand soars
THE GOVERNMENT fully awarded the reissued 10-year Treasury bonds (T-bonds) it auctioned off on Tuesday at a lower average rate amid robust demand, which led it to open its tap facility to offer another P20 billion in the papers. The Bureau of the Treasury (BTr) raised P35 billion as planned from its offer of reissued […]
Reserves inch down to $101.983B at end-June
THE COUNTRY’S dollar reserves inched down at end-June as the government paid its foreign currency debt obligations and amid a decline in the value of the central bank’s gold holdings. Preliminary data from the Bangko Sentral ng Pilipinas (BSP) showed the country’s gross international reserves (GIR) — which shield the country from liquidity shocks — […]
FCDU loans rise at end-March as economy recovers
Foreign currency loans extended by local banks rose at end-March from the quarter prior as demand for credit increased, with businesses having higher financing requirements and becoming more bullish as the economy continues to recover from the downturn caused by the pandemic. Outstanding loans granted by the foreign currency deposit units (FCDU) of banks went […]
TDF yields slip on oil’s drop, global bond issue
THE CENTRAL BANK’S term deposits fetched lower yields on Wednesday. — BW FILE PHOTO YIELDS on the central bank’s term deposits inched down on Wednesday as fuel prices declined and as investors continued to price in the government’s bond issuance last month. The term deposit facility (TDF) of the Bangko Sentral ng Pilipinas (BSP) fetched […]
Quasi-banks’ 2021 bad loan ratio worsens to 9.9%
NONPERFORMING LOANS (NPL) held by quasi-banks reached P14.081 billion as of end-2021, resulting in an NPL ratio of 9.9%, based on data from the Bangko Sentral ng Pilipinas (BSP). These bad loans increased by 4.1% from the P13.523 billion booked as of end-2020. The NPL ratio inched up from the 9.6% seen a year earlier, […]
Editorial: ‘Iceberg of corruption’: difficult to melt in the Philippines
ARRESTS of government officials and employees involved in unlawful activities taint the institutions they serve. Even if they still have to face a trial, the public servants exposed doing monkey business could not escape judgment in the court of public sentiment. The arrest of Cebu City Hall employee Kara Marie Arcilla-Bargamento for allegedly extorting at […]
Kubra Commander releases hypnotic single ‘I’ve Seen the Heathens Cry’
HOMEGROWN band Kubra Commander has released their much-anticipated single, “I’ve Seen the Heathens Cry,” on all streaming platforms Friday, September 24, 2021. The band, which is under Lilystar Records, is composed of Bobbi Olvido (lead vocal/songwriter), Lynel Sucalit (synths), Joko Nozawa (guitar), Jah Acab (bass) and Tim Williams (drums). “I’ve Seen the Heathens Cry” is […]
Monetary Board maintains policy settings
THE Monetary Board has decided to maintain the interest rate on the Bangko Sentral ng Pilipinas’ (BSP) overnight reverse repurchase facility at two percent. The interest rates on the overnight deposit and lending facilities were likewise kept at 1.5 percent and 2.5 percent, respectively. Latest baseline forecasts indicate a higher inflation path over the policy […]
PHL 5G still in infancy, but improvements significant, Opensignal says
THE FIFTH generation (5G) of mobile communications technology in the Philippines is still in its “infancy,” but has delivered improvements to users’ mobile experience, mobile analytics company Opensignal said. “We’ve seen that 5G already delivers significant improvements to our Filipino users’ mobile experience when compared to that seen when they only connect to 4G services, for video, multiplayer gaming and […]
Recreational Fishing
These hobbyists are seen waiting for a single catch at sunset in Brgy. Canjulao, Lapu-Lapu City. Not too far beyond is the Cebu-Cordova Link Expressway which is set to be completed in December 2021. (ALLAN CUIZON)