The central bank Monetary Board is seen hiking interest rates on Thursday as the stronger-than-expected gross domestic product (GDP) in the first quarter, the elevated inflation, and the series of wage hikes approved by the government have narrowed the space for accommodative monetary policy.
The Bangko Sentral ng Pilipinas (BSP) has further enhanced the guidelines on the computation of the capital of government bank to strengthen their capacity to serve the financing needs of the national government.
Monetary authorities continue to closely monitor the Russia-Ukraine conflict and remain vigilant against its impact on the Philippines’ inflation outlook.
The Bureau of Internal Revenue (BIR) has created a task force to run after registered business enterprises in the Information Technology-Business Process Management (IT-BPM) sector currently enjoying tax incentives but are not complying with the government return-to-office order.
The Bangko Sentral ng Pilipinas (BSP) has commended President Duterte and Congress for the enactment of the Financial Products and Services Consumer Protection Act (FCPA).
The Bangko Sentral ng Pilipinas (BSP), banks, and financial institutions are further boosting digital adoption in the country via the launch of three electronic payment streams.