BSP head says central bankers must prepare for different futures

MACTAN, Cebu — The Bangko Sentral ng Pilipinas (BSP) brought together researchers and financial policy specialists on Oct. 6–7, 2026, to examine how global economic changes could reshape monetary policy and financial systems.

The discussions concern households and businesses because the BSP’s work on price stability, financial stability, and payment systems affects purchasing power and the safe movement of money.

The BSP and the Reinventing Bretton Woods Committee (RBWC) organized the sixth International Research Fair (IRF), according to a central bank release dated Oct. 15.

The conference carried the theme “Stability and Growth in a Reordering Global Economy: Macro-financial Policy in an Era of Structural Change,” focusing on how policymakers can respond to a rapidly changing world economy.

“People think central bankers are in the business of predicting the future. Our job is to actually prepare for different futures,” BSP Governor Eli M. Remolona Jr. said on the opening day.

Remolona emphasized the role of research in preparing policymakers to respond to different scenarios.

BSP Assistant Governor Maria Margarita Debuque-Gonzales, who heads the BSP Research Academy, welcomed participants from universities, research organizations, and financial institutions.

These included the University of California, Berkeley, the Institute of International Finance, the German Council on Foreign Relations, the University of Glasgow, and the Bank for International Settlements.

Also represented were the National University of Singapore, the London School of Economics, the Asia School of Business, the University of Exeter Business School, and the American Committee on Asian Economic Studies.

Other participants came from Princeton University, The University of Tokyo, the University of Virginia, the Centre for Social and Economic Progress, and the European Central Bank.

BSP Monetary Board members Walter C. Wassmer, Rosalia V. De Leon, and Jose L. Querubin also attended.

The discussions covered sovereign balance sheets, financial market dynamics, and monetary policy frameworks amid changes in the relationship between the economy and the financial system.

Participants also examined Asia’s growth challenge and the rise of digital payments, including what wider use of those payments means for central banking.

Global financial stability, systemic risks, and financial innovation were also on the agenda.

These subjects fall within the BSP’s responsibilities for maintaining stable prices, a sound financial system, and safe and efficient payments and settlements.

The conference ended with a fireside chat with Remolona on how financial innovations could reshape the global financial system, including cross-border payments.

The BSP release did not announce a new policy measure.

The IRF is the BSP Research Academy’s flagship research forum, bringing together central banks, multilateral institutions, academics, and researchers to exchange ideas for policymaking grounded in evidence.

Established in 1994, the RBWC is a nonprofit organization that promotes dialogue among senior participants working to redefine the global financial architecture and monetary system.