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The central bank of the Philippines on July 14 announced a surprise interest rate hike - the increase for the third month in a row.

The central bank (Bangko Sentral ng Pilipinas (BSP)) of the Philippines kept its key interest rates unchanged on June 24 in the context that it is striving to maintain suitable monetary policy for helping the national economy recover.

Governor of the Philippine central bank (BSP) Benjamin Diokno has said overseas remittances to the country could shrink 5 percent this year because of COVID-19.

The Philippine central bank on April 16 lowered its interest rates by 50 basis points to 2.75 percent, the lowest on record, to keep the economy afloat amid the COVID-19 pandemic.

The central bank of the Philippines (BSP) is ready to increase the purchasing value of government bonds to 500 billion PHP (9.846 billion USD) in order to provide extra lifeline to the government amid the COVID-19 pandemic, said a banking official.

The central bank of the Philippines (BSP) on August 8 cut its benchmark interest rate and kept the door open for further easing to buttress the flagging economy.

Personal remittances from overseas Philippine people reached 3.2 billion USD in December 2018, up 3.6 percent year-on-year, the Philippine central bank said on February 15.

The Philippine economy grew by 6.8 percent in the first quarter of 2018, faster than the growth recorded in the same quarter of 2017, the Philippine Statistics Authority (PSA) reported on May 10.