Finance Sec. Ralph Recto joins BSP Monetary Board

Updated Mon, January 22, 2024 at 7:12 AM Published Fri, January 19, 2024 at 4:12 PM

Finance Secretary Ralph Recto has officially joined the Monetary Board (MB) of the Bangko Sentral ng Pilipinas (BSP) as the government's representative.

Recto was sworn in by BSP Governor Eli Remolona, becoming the seventh member of the central bank's policy-setting board.

His appointment to the MB represents President Ferdinand Marcos Jr.'s cabinet on the board.

The Monetary Board now includes Governor Remolona as chairman, and members V. Bruce Tolentino, Anita Linda Aquino, Romeo Bernardo, Rosalia de Leon, former Finance Secretary Benjamin Diokno, and Secretary Recto.

The BSP maintains a tight monetary policy stance with key interest rates at a near 17-year high of 6.5 percent to combat inflation, which averaged 6.0 percent in 2023, exceeding the target range.

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Ferdinand Marcos Jr.Bangko Sentral ng Pilipinas Benjamin Diokno Ralph Recto

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