BSP to observe ‘quiet period’ before policy meetings

May 31, 2024 - 5:53 PM
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A security guard stands beside a logo of the Bangko Sentral ng Pilipinas (Central Bank of the Philippines) posted at the main gate in Manila, Philippines April 28, 2016. (Reuters/Romeo Ranoco/File Photo)

 The Philippine central bank said on Friday it will observe a “quiet period” for seven calendar days before its monetary policy meetings so that it is consistent in its messaging.

The Bangko Sentral ng Pilipinas (BSP) said its governor may speak about speak about the current monetary policy issues or prospective monetary policy decisions during the quiet period, with concurrence by the monetary board.

“Forward guidance requires the BSP to exercise transparency, to be consistent in its messaging, and to project a single voice to the public when communicating the intention and direction of monetary policy,” it said in a statement.

—Reporting by Karen Lema