As stock market investors await rate cuts by the Bangko Sentral ng Pilipinas (BSP), banks are generating better interest earnings.

Delayed BSP rate cuts benefiting banks

The Monetary Board -- policymaking body of the Bangko Sentral ng Pilipinas -- raised at its regular meeting today the policy rates by 25 basis points, effectively raising interest rates on overnight deposit and lending facilities at 6 and 7 percent, respectively.

MB raises rates by 25 basis points

BSP: possible 25 basis points rate cut, remains 'hawkish'

There is relatively great developments in the stock market. 

April Inflation Within Target 

Despite the rosy projections for economic growth that government economists have been telling investors and businesses, the reality is the Bangko Sentral ng Pilipinas (BSP) may have a bigger influence on the economy’s fate this year and beyond.

BSP holds key to economy’s fate this year and beyond

Following the visit last May of Queen Maxima of the Netherlands, special advocate of the UN Secretary General for Inclusive Finance for Development, the Bangko Sentral ng Pilipinas (BSP) is exploring the use of Open Finance, measuring financial health, collecting data on the pricing of digital payments and supporting a legislative measure on internet access.

'Open Finance' for greater financial inclusion

The Bangko Sentral ng Pilipinas (BSP) has received the “2024 Excellence in Currency Technical Award” for its Coin Deposit Machine (CoDM) Project from the International Association of Currency Affairs (IACA).

BSP's 'Coin Deposit Machine' bags award

But PH got the least share

Of the $1.34 trillion direct investments in 2023 in the Asia Pacific region, the Philippines received the least share of these monies.

FDIs soars in AsPac region

Queen Maxima of the Netherlands visited Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona Jr. in her capacity as UN Secretary General’s Special Advocate for Inclusive Finance for Development Tuesday, May 21.

Queen of Netherlands visits BSP 

The Bangko Sentral ng Pilipinas (BSP) said it is on track with the study and testing of its central bank digital currency – the first in the world – which it estimates to be ready for adoption in late 2029.

BSP to launch digital currency by 2029

The Bangko Sentral ng Pilipinas (BSP) would certainly do bank users, especially micro merchants using digital banking, a lot of good by removing transaction fees for fund transfers, balance inquiries and printing of transaction receipts, deposit or withdrawals over the counter for amounts below P59,000.

Bangko Sentral ng Pilipinas

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BSP wants to get rid of small transfer fees