Remolona named as one of world’s top central bankers for second straight year
BANGKO SENTRAL ng Pilipinas (BSP) Governor Eli M. Remolona, Jr. has again been recognized as one of the best central bank chiefs worldwide.
Mr. Remolona received an “A-” rating from Global Finance magazine;s Central Banker Report Cards 2025.
The BSP chief debuted on the report card last year with the same grade.
“We thank Global Finance for recognizing the Bangko Sentral ng Pilipinas’ efforts in keeping prices stable, the financial system sound, and payments running smoothly,” Mr. Remolona said in a statement on Thursday. “This recognition is really a credit to the entire BSP team and their commitment to our mandates.”
Global Finance publishes its Central Banker Report Cards annually and evaluates the central bank chiefs of nearly 100 key countries, territories and districts, grading them between “A+” and “F.”
“The ratings are based on inflation control, economic growth, currency stability, interest rate management, and independence,” the BSP said.
“Our annual Central Banker Report Cards recognize those leaders who have not only delivered results but done so with independence, discipline, and strategic foresight,” Global Finance Founder and Editorial Director Joseph Giarraputo said.
Mr. Remolona was appointed as BSP chief in June 2023 for a six-year term, when the central bank was in the middle of a tightening cycle to help rein in inflation and normalize their policy stance as the Philippine economy reopened following the coronavirus pandemic.
That rate-hike round ended with an off-cycle increase worth 25 basis points (bps) in October 2023 that brought cumulative hikes to 450 bps and the key rate to 6.5%.
As inflation went down, the Monetary Board in August 2024 then began its current easing cycle. It has now cut benchmark borrowing costs by a cumulative 150 bps, with the policy rate now at 5%.
Mr. Remolona has signaled that this round of policy loosening is nearing its end, with just one more reduction possible within this year to support the economy if needed as global trade uncertainties continue to cloud the outlook.
Others who received an “A-” rating this year are the heads of central banks from Cambodia, Czech Republic, Dominican Republic, Egypt, Ethiopia, European Union, Guatemala, Mongolia, Serbia, Singapore, South Africa, Taiwan, and Uganda.
Meanwhile, the US Federal Reserve’s Jerome H. Powell, Denmark’s Christian Kettel Thomsen and Vietnam’s Nguyen Thi Hong received the highest “A+” grade.
The full list will be published in October. — KKC
