Bangko Sentral ng Pilipinas. (File photo / Philippine Daily Inquirer) MANILA -Expectations that the Bangko Sentral ng Pilipinas (BSP) will not raise its policy rate again in May are gaining ground with Monetary Board (MB) member and Finance Secretary Benjamin Diokno chiming in while Fitch Solutions added their voice to those who are expecting an additional increase of 25 basis points (bps). With the division firming up, the pause forecast is no longer an outlier with erstwhile lone voice Pantheon Macroeconomics joined by ING Bank and Goldman Sachs. Miguel Chanco, Pantheon Macroeconomics’ chief economist on emerging Asian markets, said the BSP’s move last week to raise its key rate to 6.25 percent represented a slowdown from two previous increases of 50 bps or 0.5 percentage point each. Chanco said the downshift was made possible by the slightly slower average 8.6-percent inflation in February, “which confirmed the peak of the headline rate in January.” As expected, … [Read more...] about Pause in BSP rate hikes seen
Monetary policy vs fiscal policies
PSEi slips as investors weigh possible end of interest rate hikes
MANILA –The benchmark Philippine Stock Exchange Index (PSEi) tilted lower on Monday after Finance Secretary Benjamin Diokno said the Bangko Sentral ng Pilipinas (BSP) could pause its aggressive monetary tightening during its next policy meeting in May. The PSEi slipped 0.11 percent, or 7.14 points, to 6,595.03 while the broader All Shares index shed 0.08 percent, or 2.65 points, to 3,514.07. Diokno, a member of the BSP’s policymaking Monetary Board, expressed his personal views during the weekend, saying he favored “nonmonetary” measures to ease inflation moving forward. Last week, the BSP raised its benchmark policy rate by 25 basis points to 6.25 percent. Philippine central bank raises key policy rate by 25 bps Investors were mostly on the sidelines on Monday as 390.14 million shares valued at P3.63 billion changed hands. Foreigners were net sellers amounting to P11.92 million, stock exchange data showed. PSE subsectors mining and oil led gainers, climbing 0.35 … [Read more...] about PSEi slips as investors weigh possible end of interest rate hikes
U.S. Regulator Says That Binance Illegally Helped Americans Trade On Its Exchange
Share to Twitter Share to Linkedin The Commodity Futures Trading Commission (CFTC) today issued a complaint against Binance, the largest crypto exchange in the world, alleging that the firm put profits over compliance and committed “numerous violations of the Commodity Exchange Act (CEA) and CFTC regulations.” Also mentioned were Changpeng Zhao, the Binance founder and CEO, and former Chief Compliance Officer Samuel Lim, who is cited widely throughout the complaint and allegedly orchestrated much of the malfeasance. Today’s filing is the latest in a series of questionable behaviors by the company. However, while the CFTC is seeking disgorgement of profits, civil monetary penalties, registration bans and a permanent injunction against violations of the CEA and CFTC regulations, the long-term impact of this filing is unclear. Specifically the document, filed today in the federal courthouse in Chicago, alleges that the company offered crypto derivatives, … [Read more...] about U.S. Regulator Says That Binance Illegally Helped Americans Trade On Its Exchange
Financial Planning For A Divorce
Share to Twitter Share to Linkedin There are many financial planning considerations before, during, and after a divorce. A key part of the process from a financial standpoint is dividing the assets. Generally, couples split the value of their assets 50-50 (though not always). But that doesn't mean the actual assets are just split down the middle, and some assets are much more favorable from a tax perspective than others. Once the divorce is finalized, a crucial (but often overlooked) part of the process is updating estate documents and beneficiary designations. Here are some key considerations when financial planning for a divorce. Money and divorce This article solely focuses on some of the general financial planning aspects of divorce and is not personal legal, tax, accounting, or financial advice. When getting a divorce, it's important to assemble your team of professionals. During the divorce, your attorney is the star quarterback. … [Read more...] about Financial Planning For A Divorce