Overseas Filipinos’ cash remittances increased by 2.8 percent year-on-year to $30.211 billion as of end-November 2023 from $29.38 billion same time in 2022, based on the latest data from the Bangko Sentral ng Pilipinas (BSP). The BSP said Monday, Jan. 15, that for the month of November, remittances sent through official banking channels rose by 2.8 percent to $2.719 billion from $2.644 bi...
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MANILA, Philippines — Home prices rose further, although at a slower pace, in the third quarter last year as high interest rates continued to increase monthly housing costs, according to the Bangko Sentral ng Pilipinas (BSP). The central bank’s Residential Real Estate Price Index (RREPI) rose by 12.9 percent to 167.7 in the third quarter of 2023 from 148.6 in the same quarter in 202...
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Prices of residential real estate went up by 12.9 percent year-on-year as of the third quarter 2023 amid the continued expansion of housing loans across the country, according to the latest Residential Real Estate Price Index (RREPI) of the Bangko Sentral ng Pilipinas (BSP). The RREPI, which is a BSP tool to assess the real estate and credit market conditions in the Philippines, measures the av...
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PHILIPPINE BANKS remain well-capitalized and highly liquid, which will help them withstand credit and market shocks during crises, the Bangko Sentral ng Pilipinas (BSP) said. The BSP has continued to implement structural reforms to ensure the financial strength and safety of its supervised banks, it said in an e-mail to BusinessWorld. “The adoption of sound governance and ri...
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INFLATION may accelerate as much as 7.9% in October, driven by rising food prices, higher transport fares and the peso depreciation, the Bangko Sentral ng Pilipinas (BSP) said on Monday. “The BSP projects October 2022 inflation to settle within the range of 7.1% to 7.9%,” it said in a statement. If realized, October inflation would exceed the central bank&rsqu...
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MANILA, Philippines — State-run Philippine Deposit Insurance Corp. (PDIC) has more than P19 billion worth of real estate properties from banks ordered closed by the Bangko Sentral ng Pilipinas (BSP). The money could be used to beef up PDIC’s buffer to pay out deposit insurance claims. PDIC president Roberto Tan earlier told the Senate Committee on Banks, Financial Institutions, a...
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