Insider Spotlight
This marks his second straight A-, following his debut grade in 2024.
Global Finance evaluates nearly 100 central bank governors on inflation management, economic growth objectives, currency stability, and interest-rate policy.
Only those with A+, A, or A- grades are publicly named; Remolona’s back-to-back A- places him in an elite group of leaders delivering sound outcomes amid global volatility.
Remolona took helm of the BSP on July 3, 2023, bringing over two decades of experience at the Federal Reserve Bank of New York and the Bank for International Settlements, where he served as Asia-Pacific head.
His A- in 2024 came after aggressive rate hikes totaling 450 basis points (bps) to curb inflation, combined with an off-cycle 25-bp hike and subsequent easing moves as price growth normalized.
In 2025, the BSP continued on a data-driven path. By late August, inflation had dropped to 0.9 percent and the economy grew 5.5 percent year-on-year in the second quarter, prompting a third consecutive 25-bp cut, taking the reverse repurchase rate to 5.0 percent.
Remolona indicated another rate reduction may follow if growth softens further.
What it means
An A- grade for two years reflects policy consistency, inflation anchored within target, and macroeconomic stability amid global uncertainties. His recognition alongside peers such as Jerome Powell underscores the BSP’s credibility.
For investors and markets, it signals confidence continuity at the central bank’s highest level.
Outlook
Remolona’s sustained performance through 2025 adds to the BSP’s case for independent, disciplined monetary stewardship.
As inflation nears multi-year lows and growth remains robust, policymakers can maintain measured flexibility.
With two A-s under his belt, Remolona sets a clear platform for continued credibility heading into his ongoing term through 2029.
— Edited by Daxim L. Lucas
