Bank lending expands at slower pace at 10% in February: BSP

to 6.25 percent in March.

U nited Kingdom’s Developing Countries Trading Schemes (DCTS), a new trading scheme launched by the British government, will cover more tariff lines than the current UK Generalised Scheme of Preferences (GSP) and the European Union GSP Plus (EU GSP+), the British envoy here said.

British Ambassador to the

Philippines Laure Beaufils told reporters over the weekend that under the DCTS, more products from developing countries will be treated with zero tariffs upon entering the UK market.

“The DCTS was developed after quite a lot of consultation, including in the Philippines, to really learn from GSP+ and think about what works well and what can we do even better. So, in many ways, it is the top best of its class,” Beaufils said in an interview following the visit of UK Minister for Indo-Pacific Anne-Marie Trevelyan here on March 30 and 31.

The DCTS was announced by the UK in 2022 and it targets to implement the new trading

The outstanding loans of universal and commercial banks, net of reverse repurchase placements with the Bangko Sentral ng PIlipinas, slowed to 10 percent in February from 10.4 percent the previous month, central bank data showed.

This, as the BSP continue hiking the country’s benchmark interest rate, which was brought

On a month-on-month seasonally-adjusted basis, outstanding universal and commercial bank loans, net of RRPs, eased slightly by 0.2 percent, the BSP said.

“Sustained credit and ample liquidity will continue to support robust domestic demand. Even as the Philippine banking