• The Bangko Sentral ng Pilipinas (BSP) will review in the next days or week whether it will keep or not the current three percent monthly ceiling on credit card interest rate and finance charges or the 36 percent cap per year on unpaid credit card balances.
  • BSP Deputy Governor Chuchi G. Fonacier said the financial supervision sector (FSS) which she heads, will submit its recommendation to the Monetary Board this month. The seven-person Monetary Board is BSP’s policy-making arm.
  • The order lapsed in February 2024. BSP has to decide this month if it will maintain the current ceiling, raise it or remove it entirely.