Philippines

Philippine's Tetangco - links with US decisive

The macroeconomic impact of the current turmoil on Philippine's economy will depend on trade links with the United States, remittances and investments, said Amando Tetangco, the governor of the Central Bank of Philippines.

Philippines keep rates on hold

After implementing five cuts in the benchmark interest rate since July last year, the central bank of the Philippines kept interest rates unchanged at 5% on 24 April.

Philippines looks to end special vehicles

The central bank in the Philippines is seeking to draw a line under special purpose investment vehicles that are a legacy of the Asian financial crisis that erupted more than a decade ago.

Philippines cuts rates to 5.25%

The Central Bank of the Philippines's rate-setting board voted on Thursday to reduce its benchmark overnight borrowing rate to 5.25%. The decision marks the third rate cut in a row for the central bank.

New payments model needed, says RBI

The Reserve Bank of India (RBI) has suggested that a change in its regulatory regime, allowing migration to a new payments model featuring the use of mobile phones and pre-paid cards, could soon be under way.

Philippines cuts rates

The Central Bank of the Philippines surprised the markets on Thursday by deciding to lower its key policy rates by 25 basis points to 5.75%, for the overnight borrowing rate, and 7.75% for the overnight lending rate.

Philippines: e-rediscouting system

In a speech made on the launch of an electronic rediscounting system, Amando Tetangco Jr, governor of the central bank of the Philippines, said that the system would expand access to credit of countryside areas in the Mindanao region.

Twin move leaves Philippine policy "neutral"

The Philippine central bank announced a sharp reduction of rates from 7.5 to 6% on 12 July. The move was, however, accompanied by the abolition of a policy of paying lower interest on large deposits with the central bank.

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