BSP to hike interest rates, inflation forecasts
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.
BSP enhances guidelines on computation of capital of government banks
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.
Authorities closely watching inflation pressures from Russia-Ukraine war
Monetary authorities continue to closely monitor the Russia-Ukraine conflict and remain vigilant against its impact on the Philippines’ inflation outlook.
BIR creates task force to run after businesses ignoring return-to-office order
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.
Financial Consumer Protection Act to strengthen confidence in financial system
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).
BSP, banks to boost digitalization via 3 new e-payment streams
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.