Manila: The Bangko Sentral ng Pilipinas (BSP) announced a shift in its approach to communicating monetary policy decisions, effective from August 28. The central bank will now release its monetary policy stance through a statement on its website and official X account, formerly known as Twitter, at 2:30 p.m.

According to Philippines News Agency, the new format will also feature a livestreamed press conference on the BSP’s official Facebook page, beginning at 3 p.m. The conference will start with remarks from the BSP governor regarding the monetary policy decision, followed by a question-and-answer session with the media.

The central bank emphasized that this change is part of its ongoing efforts to enhance transparency and public understanding of its monetary policy actions. Previously, the BSP announced the Monetary Board’s policy decisions exclusively during a 3 p.m. press conference.