Department of Finance (DoF) Secretary Frederick Go has officially joined the Bangko Sentral ng Pilipinas (BSP) Monetary Board.
Central bank Governor and Monetary Board Chairman Eli M. Remolona Jr. administered Go’s oath of office during a ceremony held this morning at the BSP headquarters in Manila.
President Ferdinand R. Marcos Jr. previously designated Go as the Cabinet representative to the BSP’s policymaking body following his appointment as Finance secretary on 17 November 2025. Go succeeds Executive Secretary Ralph Recto, who previously held the position.
Highest policymaking body
The Monetary Board is the central bank’s highest policymaking body, exercising its powers and functions.
It sets the country’s monetary and financial policies to ensure price stability, maintain a sound financial system, and support sustainable economic growth.
Beginning today, Go joins fellow Monetary Board members and industry figures, including Remolona, former BSP Governor and Finance Secretary Benjamin Diokno, former DOF Undersecretary Romeo L. Bernardo, former National Treasurer Rosalia V. De Leon, as well as finance industry veterans Jose L. Querubin and Walter C. Wassmer.
At its most recent meeting on 11 December, the Monetary Board decided to cut the BSP’s target Reverse Repurchase Rate (RRP) by 25 basis points, citing subdued inflation and weakened infrastructure spending linked to the flood control scandal.
Injecting liquidity into the economy
The Board has reduced the BSP’s key policy rate eight times since August 2024, including two cuts last year alone — moves aimed at injecting liquidity into the economy and stimulating growth.
On Tuesday, Remolona said that a further RRP cut in February was “on the table,” later clarifying that such a move remains “unlikely” and would depend on incoming data, consistent with the BSP’s data-driven approach to monetary policy.