The Bangko Sentral ng Pilipinas (BSP) is stepping up its game in anticipating economic changes by revamping how it gathers and analyzes information, a top official revealed on Friday.
“We’re upgrading several aspects of our operations, especially our real-time monitoring capabilities, to better understand what’s happening on the ground and what it means for our future decisions,” said Zeno Ronald Abenoja, Deputy Governor of the BSP’s Monetary and Economics Sector, during a briefing at their Manila office.
This effort is aimed at ensuring that the BSP’s policy recommendations are grounded in accurate and timely data. “We want to provide the Monetary Board with insights based on solid and up-to-date information,” Abenoja explained. “At the same time, we’re strengthening our early warning systems to spot and prepare for possible economic developments that could affect our policy stance.”
One of the key components of this initiative is the potential recalibration of the Consumer Expectations Survey (CES) and Business Expectations Survey.