BSP sharpens its research edge to guide policy in a shifting global landscape
The Bangko Sentral ng Pilipinas (BSP) further strengthened its research function in 2025 to support evidence-based and forward-looking policymaking, reinforcing the link between rigorous analysis and decisions across monetary policy, financial stability, and payments and settlements.
Building on earlier reforms, the BSP moved toward a more rigorous and applied research agenda, ensuring that policies remain grounded in analysis, responsive to emerging risks, and aligned with international best practices to benefit the Filipino public.
From analysis to action
The BSP deepened its policy-centered research function, focusing on improving the quality of analysis and integrating research into decision-making.
In 2025, it refined key concepts such as the neutral real interest rate, output gap, and exchange rate pass-through, strengthening the analytical basis for policymaking. Research used advanced econometric and AI-based tools, covering monetary policy transmission, inflation dynamics, and financial markets, with much of the work informing ongoing policy discussions.
The BSP released 20 discussion papers and published 13 peer-reviewed articles on monetary policy, inflation, and global economics. Researchers also presented at major international forums, enabling feedback and exchange to further sharpen analysis and strengthen global engagement.
Building expertise through partnerships
The BSP expanded partnerships with the Bank for International Settlements, the Southeast Asian Central Banks Research and Training Centre (SEACEN), and academic institutions to deepen the use of machine learning for nowcasting, forecasting, and systemic risk analysis.
It also engaged its Research Experts Panel, improving analytical rigor and international comparability, while reviewing its monetary policy framework with global experts to strengthen forward-looking policy analysis.
Integrating research into policy
Closer engagement between researchers and decision-makers aligned analysis with operational priorities and emerging policy questions. Internal platforms like the Research Huddle Series, which presented 40 studies, supported peer review, and a more structured research environment.
These developments reflect a more cohesive and better-aligned research function anchored on the principle that policy decisions depend on strong analysis.
For Filipinos, this means more stable prices, a more resilient financial system, and policies that are adaptive, credible, and grounded as the BSP continues to deepen its research capabilities.
