Interest rate hikes to hit housing market in near term

Inflation in January hit a 14-year high of 8.7%, prompting the Bangko Sentral ng Pilipinas (BSP) to say it was likely to raise its benchmark interest rate one more time this year, after having hiked it by 50 basis points on Feb. 16, Reuters reports. The news agency reported BSP Governor Felipe Medalla saying that […]

Local banks “safe” from Silicon Valley Bank crisis

The Bangko Sentral ng Pilipinas (BSP) and the leading industry group of private and government banks on Tuesday sought to calm markets and the public amid contagion fears from a brewing banking crisis in the United States. Bangko Sentral ng Pilipinas (BSP) Governor Felipe Medalla said there was limited fallout to the country following the […]

Rate hikes may derail real estate sector recovery

The Philippine real estate sector’s recovery may be derailed by the Bangko Sentral ng Pilipinas’ (BSP) aggressive rate hikes, according to Cushman & Wakefield Philippines. “The aggressive contractionary monetary policy stance by the BSP which is in sync with other central banks, prompted by the rallying prices, may slow down the global recovery, as well […]