2017 Foreign Portfolio Investment Transactions Show Net Outflows

Registered foreign portfolio investments for 2017 aggregated $16.1 billion, 8.9 percent lower than the $17.6 billion level in the previous year, according to the Bangko Sentral ng Pilipinas (BSP). On a monthly basis, the lowest gross inflows were recorded in August ($936 million) while the peak was noted in June ($2 billion). On a quarterly […]
Continue reading…

 

BSP and PPMI Sign MOA to Strengthen Governance in the Retail Payment System

The year 2018 ushers in a milestone for reforms in the retail payment system as the Bangko Sentral ng Pilipinas (BSP), represented by Governor Nestor A. Espenilla Jr., and the Philippine Payments Management Inc. (PPMI), represented by Chairman Justo A. Ortiz, signed the Memorandum of Agreement (MOA) between the BSP and PPMI on 12 January […]
Continue reading…

 

PH Now a BIS-Reporting Country

The Philippines will join an elite group of less than 50 jurisdictions worldwide which report cross-border banking statistics to the Bank for International Settlements (BIS) as part of the global database. After months of testing and validation, cross-border banking data maintained by the Bangko Sentral ng Pilipinas (BSP) has been judged as meeting the rigorous […]
Continue reading…

 

Personal Remittances for 11M2017 Reach $28.2B

Personal remittances from Overseas Filipinos (OFs) reached $2.5 billion in November 2017, 3.2 percent higher than the level posted in the same month in 2016, according to the Bangko Sentral ng Pilipinas (BSP). This brought the cumulative remittances for the first 11 months of 2017 to $28.2 billion, representing a year-on-year growth of 5.1 percent, […]
Continue reading…

 

FDI Net Inflows Surge in October

Foreign direct investments (FDI) net inflows rose threefold in October 2017 to $2 billion from $670 million registered in the comparable period in 2016, according to the Bangko Sentral ng Pilipinas (BSP). The upswing in FDI reflects continued investor confidence in the country’s strong macroeconomic fundamentals and growth prospects. More than three-fourths of FDI net […]
Continue reading…

 

Financial Inclusion Improves in the PH

In its latest report on the state of financial inclusion, the Bangko Sentral ng Pilipinas (BSP) says that access to and usage of formal financial products and services continues to improve in the country. Out of 1,634 local government units or LGUs (cities and municipalities), the number of unbanked areas declined to 571 LGUs (34.9% […]
Continue reading…

 

2017 Average Inflation Within Government Target

Year-on-year headline inflation for 2017 averaged at 3.2 percent, well within the Government’s target range of 3.0 percent ±1.0 percentage point for the year, according to the Bangko Sentral ng Pilipinas (BSP). Inflation in December was stable at 3.3 percent, in line with BSP staff forecasts. Likewise, month-on-month seasonally-adjusted headline inflation was steady at 0.3 […]
Continue reading…

 

MB Approves Sanctions on Metrobank

The Monetary Board (MB) approved the imposition of sanctions on Metropolitan Bank and Trust Company (MBTC, PSE: MBT) in connection with the examination conducted by the Bangko Sentral ng Pilipinas (BSP) relating to the PhP1.75 billion fraud allegedly perpetrated by one of its officers. In determining the appropriateness of the sanctions, the MB took into […]
Continue reading…