Eli M. Remolona Jr. @BSPGovEli Twitter profile

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Eli M. Remolona Jr.

@BSPGovEli

1 year

During our policy meeting today, the MB decided to keep the interest rate on the BSP’s overnight reverse repurchase facility at 6.25%. The interest rates on the overnight deposit and lending facilities were thus retained at 5.75% and 6.75%, respectively.

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Eli M. Remolona Jr.

@BSPGovEli

1 year

Congratulations for the roaring success of the 2023 AFI Global Policy Forum! On behalf of the @BangkSentral , I thank the delegates and resource persons for their active participation and contribution for our common goal of #FinancialInclusion toward shared prosperity.

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Eli M. Remolona Jr.

@BSPGovEli

1 year

Today, I had the honor of administering the oath to Ms Rosalia V. de Leon, officially welcoming her as the newest member of the @BangkoSentral BSP Monetary Board.

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Eli M. Remolona Jr.

@BSPGovEli

1 year

This morning, I spoke with @BloombergTV ’s @YvonneManTV on our monetary policy decision for a rate pause. I emphasized that the @BangkoSentral remains hawkish with risks to inflation outlook skewed toward the upside.

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Eli M. Remolona Jr.

@BSPGovEli

1 year

I am honored to be invited to the Bankers Institute of the Philippines’s General Membership Meeting where I emphasized the important role of financial digitalization in the country’s bid to reshape an economy that is more resilient, inclusive, and sustainable.

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Eli M. Remolona Jr.

@BSPGovEli

1 year

Earlier today, I spoke with @CNBC 's @jp_ong1 and @ChristineCNBC to discuss yesterday’s monetary policy decision, inflationary expectations, and the state of our banking system.

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Eli M. Remolona Jr.

@BSPGovEli

1 year

At the Monetary Board policy meeting today, we decided to maintain the BSP’s Target RRP Rate at 6.25%. Interest rates on the overnight deposit and lending facilities were retained at 5.75% nd 6.75 %, respectively.

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Eli M. Remolona Jr.

@BSPGovEli

1 year

I recently had a productive meeting with the International Finance Corporation (IFC) to discuss collaboration opportunities, particularly in #OpenFinance and other innovations that can drive financial inclusion for SMEs and the unbanked.

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Eli M. Remolona Jr.

@BSPGovEli

1 year

Today, the Monetary Board (MB) decided to take off-cycle action to raise the BSP’s Target RRP Rate by 25 bps to 6.50% effective 27 October 2023. Interest rates on the overnight deposit and lending facilities will be set to 6% percent and 7%, respectively.

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Eli M. Remolona Jr.

@BSPGovEli

1 year

I recently spoke at the Ateneo Eagle Watch Economic Briefing about what we can learn from past crises and how to build resilience. PH banks are in good shape and have maintained more than adequate levels of capital and liquidity. We also need to build corporate bond market.

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Eli M. Remolona Jr.

@BSPGovEli

1 year

I am thrilled to welcome Mr. Romeo Bernardo as the new member of the BSP Monetary Board. I am confident that his insights will be invaluable to the Board. The @BangkoSentral is excited to have you on board and look forward to working with you.

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Eli M. Remolona Jr.

@BSPGovEli

1 year

This means there's a good chance for a hike but we'll still have to look at the data. We will respond as necessary to safeguard the inflation target in keeping with the BSP's primary mandate to ensure price stability.

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Eli M. Remolona Jr.

@BSPGovEli

1 year

I had a pleasure meeting w/ British Amb to the PH @LaureBeaufils . The support of UK Govt has been instrumental in our efforts to advance responsible digitalization & sustainable finance. Thank you for the unwavering commitment to PH dev’t. I look forward to further collaboration.

Bangko Sentral

@BangkoSentral

1 year

@BSPGovEli welcomed British Ambassador to the Philippines Laure Beaufils during the envoy’s courtesy call on 31 August 2023. Gov. Remolona and Ambassador Beaufils discussed common interests in financial services, fintech, sustainable financing, and regulatory reform.

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Eli M. Remolona Jr.

@BSPGovEli

1 year

Based on the data, a pause is prudent but the @BangkoSentral is ready to hike if the upside risks materialize. We are within striking distance of the inflation target range of 2% to 4% – we will be within the target range by the end of this year and certainly by 2024 and 2025.

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Eli M. Remolona Jr.

@BSPGovEli

1 year

@BangkoSentral I also shared that we have more than ample reserves. While we do worry about a possible slowdown in the global economy next year and possible financial accidents, we have so far emerged unscathed, thanks to our very strong banking system.

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Eli M. Remolona Jr.

@BSPGovEli

1 year

I had a great discussion with the members of the Financial Sector Forum comprised of the @BangkoSentral , @SEC_Philippines , Insurance Commission, and the @OfficialPDIC . We discussed cross-cutting issues including the draft Sustainable Finance Taxonomy.

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Eli M. Remolona Jr.

@BSPGovEli

1 year

The @BangkoSentral reassures the public of its commitment to steer inflation towards a target-consistent path over the medium term, in line with its primary mandate to ensure price stability.

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Eli M. Remolona Jr.

@BSPGovEli

1 year

It was a pleasure to hear from the Rural Bankers Association of the Philippines about how we can further expand access to financial services in the countryside to support local economies.

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Eli M. Remolona Jr.

@BSPGovEli

1 year

Latest BSP baseline projections show a slightly higher inflation path. Nonetheless, inflation is still projected to revert to the 2 to 4 percent target range by Q4 2023, in the absence of further supply-side shocks.

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Eli M. Remolona Jr.

@BSPGovEli

1 year

Her past role as National Treasurer & deep experience in domestic and international finance is a valuable addition to the @BangkoSentral in pursuing its mandates of promoting price stability, financial stability, and a safe & efficient settlements system. Welcome to BSP, MBM Lea!

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Eli M. Remolona Jr.

@BSPGovEli

1 year

Together with Citi Philippines and the Microfinance Council of the Philippines, let me congratulate all the microentrepreneurs and microfinance institutions who were recognized at the 2nd Digital Financial Inclusion Awards.

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Eli M. Remolona Jr.

@BSPGovEli

1 year

In my recent meeting with @WorldBank , we discussed various reforms to strengthen financial sector stability, expand financial inclusion & sustainable finance. The @BangkoSentral highly values the long-standing partnership with WBG & I look forward to the continued collaboration.

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Eli M. Remolona Jr.

@BSPGovEli

1 year

The @BangkoSentral and Cooperative Development Authority (CDA) recently signed the MOA to enhance their supervision of cooperatives that will be licensed as Electronic Money Issuers and are registered as Operators of Payment Systems.

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Eli M. Remolona Jr.

@BSPGovEli

1 year

The @BangkoSentral is prepared for follow-through monetary policy action as necessary to bring inflation back to a target-consistent path, in keeping with its price stability mandate.

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Eli M. Remolona Jr.

@BSPGovEli

1 year

Together, we will continue to uphold the mandate of the BSP and make a positive impact in the PH economy. Welcome aboard, MBM Romy!

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Eli M. Remolona Jr.

@BSPGovEli

1 year

Your work in improving Filipinos’ lives through digital financial solutions will serve as models for your peers. The @BangkoSentral remains committed to fostering an enabling environment where meaningful innovation can thrive.

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Eli M. Remolona Jr.

@BSPGovEli

1 year

Let us work together to focus on building a more inclusive where #NoOneIsLeftBehind . We at the BSP thank AFI for the opportunity to host this year's forum. #GPFManila2023

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Eli M. Remolona Jr.

@BSPGovEli

1 year

We will continue to work together toward a strong, inclusive and sustainable financial sector.

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Eli M. Remolona Jr.

@BSPGovEli

1 year

I am also pleased to share that we have published the Manila Manifesto which urges us to apply global regulatory standards without hindering financial inclusion.

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Eli M. Remolona Jr.

@BSPGovEli

1 year

@BangkoSentral BAIPHIL is in a strategic position to enable and empower bankers to remain relevant and cognizant of market developments and best practices. Thanks BAIPHIL for the support as we continue to navigate this transformative path of digitalization.

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Eli M. Remolona Jr.

@BSPGovEli

1 year

The MB deems it necessary to keep monetary policy settings tighter for longer until inflationary expectations are better anchored and a sustained downward trend in inflation becomes evident.

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