President Ferdinand R. Marcos, Jr. has recently designated Finance Secretary Ralph G. Recto as Cabinet representative to the Monetary Board (MB), the highest policy-making body of the Bangko Sentral ng Pilipinas (BSP). BSP Governor Eli M. Remolona, Jr. (left), chairperson of the Philippine Monetary Board, is shown here while administering Secretary Recto’s oath of office […]
Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona, Jr. said the central bank’s strategy to support sustained economic growth is focused on three key challenges: managing monetary policy in a supply-shock economy; digitalizing the banking system; and maintaining a safe and efficient payments system that serves the unbanked. At the Philippine Economic Briefing (PEB) held […]
At its recent meeting on monetary policy, the Philippine Monetary Board decided to keep the Bangko Sentral ng Pilipinas (BSP)’s Target Reverse Repurchase (RRP) Rate unchanged at 6.50 percent. Accordingly, the interest rates on the overnight deposit and lending facilities will be maintained at 6.0 percent and 7.0 percent, respectively. IMAGE CREDIT: https://www.outsourceasia.org/ The latest […]
The Bankers Association of the Philippines (BAP) welcomed the appointment of Eli Remolona, a Monetary Board member, as the new governor of the Bangko Sentral ng Pilipinas (BSP) recently, even as they expressed support for whatever initiatives he will be implementing that could impact the banking industry and its various stakeholders. In a press statement, […]
