Fitch Ratings revised the credit rating outlook of five of the country’s biggest banks in terms of assets to stable from negative, reflecting a similar move on the sovereign rating of the Philippines.
The wealth management arm of Ayala-led Bank of the Philippine Islands has been mandated by state-run pension fund manager Social Security System to manage P2.5 billion worth of investment funds.
It is still too early to talk about rate cuts even after the Bangko Sentral ng Pilipinas ended its year-long tightening cycle with a prudent pause last Thursday, monetary officials said.
After raising key policy rates nine times since May last year, most economists are convinced that the Bangko Sentral ng Pilipinas is set to step on the brakes of its tightening cycle.
After raising key policy rates nine times since May last year, most economists are convinced that the Bangko Sentral ng Pilipinas is set to step on the brakes of its tightening cycle.