BSP updates monetary policy announcement format

Starting Aug. 28, the Bangko Sentral ng Pilipinas (BSP) will implement a new format for announcing its monetary policy decisions.

The BSP will release a statement on its stance via its website and official X account at 2:30 p.m., followed by a press briefing at 3 p.m. livestreamed on the BSP's Facebook page.

At 3 p.m., the briefing will begin with remarks from Governor Eli M. Remolona, Jr., followed by a Q&A session with media members.

This change aims to enhance transparency and public understanding of monetary policy actions, aligning the BSP with global best practices such as those used by the US Federal Reserve.

John Paolo R. Rivera, a senior research fellow at the Philippine Institute for Development Studies, said this move is positive for market transparency and responsiveness.