The Bangko Sentral ng Pilipinas (BSP) said it will begin releasing its monetary policy decisions at 2:30 pm starting Thursday, after the Monetary Board meeting this month, moving the time of announcement earlier than the usual 3:00 pm.
The shift, announced on Wednesday, is meant to “further strengthen transparency and public appreciation of monetary policy actions,” the BSP said.
Statements will be posted on the central bank’s website and X account, followed by a 3:00 pm press briefing streamed on Facebook.
Governor Eli Remolona Jr. will deliver the policy decision and take questions from reporters during the briefing.
The change builds on reforms first introduced in 2021, when then-Governor Benjamin Diokno moved policy announcements to 3:00 pm from the long-standing 4:00 pm schedule.
The earlier release was intended to give traders more time to process policy shifts before the 3:30 pm stock market closing bell and the 4:00 pm end of currency trading.
Since taking office in 2022, Remolona has reworked how the central bank sets and communicates monetary policy. This year, he cut the number of policy meetings from eight to six annually, aligning with global practice and allowing more time to weigh data between decisions.
Remolona also formalized a “quiet period” last year, barring BSP officials other than the governor from making policy-related statements in the week before a decision.
The gag rule, first enforced informally under former Governor Amando Tetangco Jr., aims to prevent conflicting signals that could unsettle markets. Under Remolona, it has been codified with official guidelines.
The BSP said the changes are part of efforts to refine how it manages expectations and delivers policy signals to the public.
Remolona, the seventh governor since the New Central Bank Act was reenacted in 1993, has stressed the need for a communication strategy that balances credibility, consistency, and timeliness as the BSP navigates persistent inflation risks and global market volatility.
