Monetary Policy Tightens Further in Q3 2018

The Bangko Sentral ng Pilipinas (BSP) publishes today the 68th issue of the quarterly BSP Inflation Report covering the period July-September 2018. The full text is also released in electronic format as a downloadable PDF file on the BSP website. The BSP Inflation Report is published as part of the BSP’s efforts to improve the transparency […]
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Bank Lending Standards Generally Steady in Q3 2018

Results of the Q3 2018 Senior Bank Loan Officers’ Survey (SLOS) showed that most of the respondent banks continued to maintain their credit standards for loans to both enterprises and households during the quarter based on the modal approach. This is the 38th consecutive quarter since Q2 2009 that the majority of respondent banks reported […]
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Overall BOP Position Posts $2.7B Deficit in September

The country’s overall balance of payments (BOP) position posted a deficit of $2.7 billion in September 2018, a reversal of the $24 million surplus recorded in the same month last year, according to the Bangko Sentral ng Pilipinas (BSP). Outflows in September 2018 stemmed mainly from foreign exchange operations of the BSP and payments made […]
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September Year-on-Year Inflation Hits 6.7 Percent

Headline inflation rose in September to 6.7 percent year-on-year from 6.4 percent in the previous month, according to the Bangko Sentral ng Pilipinas (BSP). The year-to-date average of 5 percent is above the government’s announced inflation target range of 3 percent ±1 percentage point for 2018. By contrast, core inflation—which excludes selected volatile food and […]
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Residential Property Prices Rise in Q2 2018

Residential real estate prices rose by 4.8 percent year-on-year in the second quarter of 2018 as the Residential Real Estate Price Index (RREPI) increased to 117.2 from 111.8 for the same quarter a year ago, according to data from the Bangko Sentral ng Pilipinas (BSP). Year-on-year (YoY), prices of townhouses, condominium units, and single detached […]
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2018 Current Account Deficit Seen Widening to $7.7B-$9.8B

By Doris Dumlao-Abadilla, Philippine Daily Inquirer The Philippines may incur a shortfall of as much as $9.8 billion in its economic transactions with the rest of the world this year, over three times larger than the level at which the Bangko Sentral ng Pilipinas (BSP) aims to cap the current account deficit, a top economist […]
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BIR Sets 12% Interest Rate for Delinquent, Deficient Tax Payments

By Ben O. de Vera, Philippine Daily Inquirer The Bureau of Internal Revenue (BIR) has issued rules mandating a lower delinquency and deficiency interest rate of 12 percent under the Tax Reform for Acceleration and Inclusion (TRAIN) Act. Revenue Regulations No. 21-2018 issued by Finance Secretary Carlos G. Dominguez III and Internal Revenue Commissioner Caesar […]
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Remittances Up 3% YoY

Personal remittances from overseas Filipinos (OFs) reached $2.7 billion in July 2018, higher by 4.5 percent compared to the level posted in the same month in 2017. On a cumulative basis, personal remittances grew by 3 percent year-on-year to $18.5 billion, Bangko Sentral ng Pilipinas (BSP) Governor Nestor A. Espenilla Jr. said. The rise in […]
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