Manila: The Bangko Sentral ng Pilipinas (BSP) is set to change the frequency of its expectation surveys, with the business expectation survey (BES) being conducted monthly starting in the first quarter of 2026. Currently, both the BES and the consumer expectation survey (CES) are conducted quarterly.

According to Philippines News Agency, BSP Deputy Governor Zeno Ronald Abenoja announced this development during a seminar for journalists. The shift aims to provide monetary officials with a more frequent understanding of business and consumer sentiments, which play a role in driving the country's domestic output.

The BES seeks to gather business outlook for the current quarter, the upcoming quarter, and the next 12 months regarding factors such as inflation, peso-US dollar movements, and expansion plans. Meanwhile, the CES surveys participants on their outlook concerning purchases of consumer durables, vehicles, real estate, and income sources.

Abenoja emphasized the necessity of updating information, noting that much of their current data is traditional and backward-looking. He highlighted the importance of frequent surveys to inform policymakers of rapid developments and suggested that monthly surveys could provide timely information.

Furthermore, Abenoja mentioned the BSP's shift towards now-casting to improve the assessment of the domestic economy's near-term output. The central bank is also exploring additional methodologies to gather more comprehensive data on investments, the financial system, logistics, and traffic.

He used an analogy of a Sunday road trip to explain the importance of these enhancements, stating that better information gathering will lead to a greater understanding of the economy and policy environment. This will ultimately strengthen the effectiveness of the BSP's monetary policy instruments.