BSP says lower foreign direct investment inflows could weigh on business expansion despite stronger equity investments.
Outstanding bank loans climbed 12.1% in May, while money supply recorded its fastest growth since August 2020.
BSP’s Circular No. 829, Series of 2014, prohibits reproducing the image of any legal tender Philippine banknote.
Free InstaPay and PESONet transfers continue to expand across major local banks.
Weak Q1 expansion of only 2.8% forces government to lower full year target, with officials banking on stronger infrastructure spending and easing inflation to lift growth in the second half.
Banks earn from deposits while e-wallets cannot, which makes fees more material.
The move removes InstaPay and PESONet fees for millions of users and raises questions on how banks will price digital transactions moving forward.
BSP will transition to phishing-resistant authentication methods instead.
Digital banking transactions in the Philippines face new fee structures.
Higher interest rates push up loans, credit cards, and business financing as inflation pressures persist.
