April 25, 2013

Bangko Sentral ng Pilipinas Best Macroeconomic Regulator Award

The Bangko Sentral ng Pilipinas (BSP) was hailed as this year’s best regulator in the Asia-Pacific region, according to a global financial services consultancy.

The central bank was awarded as the Best Macroeconomic Regulator by The Asian Banker during the firm’s Leadership Awards held in Jakarta, Indonesia last Tuesday.

For the past four years, the central bank has been able to keep inflation within its target, with last year’s 3.2 percent falling at the low-end of the three to five-percent goal.

In addition, macro-prudential measures instituted by the BSP for the past year were able to temper the threat of inflows flowing to the country, including excessive peso appreciation and possible asset bubble formation.

The Asian Banker Leadership Achievement Awards are widely acknowledged by the financial services industry as the highest possible recognition available to industry professionals in the Asia Pacific region. Established in 2001, the awards are among the most difficult and most exclusive accolades to win because of the stringent evaluation process involved.

The Asian Banker said, “The selection process is a rigorous one, completed over several months and involving feedback and interviews with all constituents who are in a position to comment on the candidates. All of these make this a world-class evaluation programme, and the insights gained from the programme are published in an annual report.”