Outgoing Bangko Sentral ng Pilipinas (BSP) Governor Felipe M. Medalla hands over the reins of the central bank to Governor Eli M. Remolona in a ceremony held on July 3, 2023, at the BSP head office in Manila. The new BSP chief underscored policy continuity as he cited the sustained easing of inflation, a strong banking system, and an increasingly digitalized and efficient payments and settlements system in the country.
Governor Remolona is the seventh head of the BSP since the enactment of The New Central Bank Act in 1993. He brings to the table his extensive international policymaking experience, having worked for 14 years at the Federal Reserve Bank of New York and 19 years at the Bank for International Settlements in Switzerland and Hong Kong.
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