BSP chief: Research key to global economic shifts

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Bangko Sentral ng Pilipinas Governor Eli M. Remolona Jr. emphasized the importance of research in helping central banks navigate a fragmenting global economic environment.

Speaking at the 5th BSP International Research Fair held July 8–9, 2025, in Cebu, Remolona said, “You are finding new pathways in your research that will help us with the global fragmentation that we are witnessing today.”

With the theme “From pandemic and high inflation to global fragmentation and structural transformation: New central banking challenges,” the fair explored how shifting trade dynamics, geopolitical tensions, and supply chain disruptions are reshaping the global economy.

Discussions highlighted the role of research in refining analytical models and updating policy frameworks.

Participants were encouraged to go beyond traditional monetary policy and evaluate the effectiveness of unconventional tools in today’s complex environment.

The fair featured papers by researchers from the BSP, Bank for International Settlements, International Monetary Fund, Bank of Japan, Nepal Rastra Bank, Asia School of Business, Queen Mary University of London, Monash University, and Asian Development Bank.

Discussants included members of the BSP Research Experts’ Panel, principal researchers of the BSP Research Academy, and representatives from Boston College.

BIS Monetary and Economics Department Deputy Head Frank Smets attended the event, along with researchers and policymakers from central banks, multilateral institutions, and universities worldwide.

From the BSP, attendees included Monetary Board Members Benjamin E. Diokno, Romeo L. Bernardo, Rosalia V. De Leon, Walter C. Wassmer, and Jose L. Querubin.

Organized annually by the BSP Research Academy, the fair serves as a platform to showcase cutting-edge research relevant to central banking in the Philippines and other developing economies.