Enhancing Philippine Monetary Policy Transmission through Financial Reforms
April 9, 2026
Improving monetary policy transmission in the Philippines requires targeted structural reforms in both the bank credit channel and the capital market channel.
April 9, 2026
Andrew Tsang, Chiang Yong (Edmond) Choo
Improving monetary policy transmission in the Philippines requires targeted structural reforms in both the bank credit channel and the capital market channel.
December 17, 2025
Andrew Tsang, Chiang Yong (Edmond) Choo
This analytical note provides an in-depth quantitative assessment of the delays and limitations across different monetary policy cycles in the Philippines.
November 24, 2025
Andrew Tsang, Chiang Yong (Edmond) Choo, Chunyu Yang, Jinho Choi, Kuchsa Dy, Shunsuke Endo, Zhan (Bella) Guo
The Philippine’s GDP growth is projected at 5.2 percent in 2025 and 5.3 percent in 2026. Inflation is projected at 1.7 percent in 2025, rising to 3.2 percent in 2026.
October 9, 2025
Andrew Tsang, Benyaporn Chantana, Chenxu Fu, Chiang Yong (Edmond) Choo, Eunmi Park, Ivan Lim, Junjie Shi, Kuchsa Dy, Leilei Lu, Ming Hui Tan, Prashant Pande, Runchana Pongsaparn, Ruperto Majuca, Shunsuke Endo, Yang Jiao, Yoki Okawa
The AFSR 2025 explores the evolving risks and vulnerabilities shaping ASEAN+3’s financial landscape and how the region is building greater resilience for the future.
August 5, 2025
Andrew Tsang, Chunyu Yang, Jinho Choi, Kuchsa Dy, Paolo Hernando, VansopheaktraOdorm Tep, Zhan (Bella) Guo
Cambodia’s economy faces increased uncertainties, mainly driven by external factors, alongside emerging challenges within the domestic financial sector.
April 15, 2025
Allen Ng, Andrew Tsang, Anthony Tan, Byunghoon Nam, Catharine Kho, Chunyu Yang, Fan Zhai, Haobin Wang, Jade Vichyanond, Jinho Choi, Jungsung Kim, Lay Lay Aung, Megan Chong, Naoaki Inayoshi, Nguyen Thi Kim Cuc, Pim-orn Wacharaprapapong, Poh Lynn Ng, Seung Hyun (Luke) Hong, Tanyasorn Ekapirak, Vanne Khut, Wanwisa May Vorranikulkij, Wee Chian Koh, Xianguo (Jerry) Huang, Yuhong Wu
The ASEAN+3 region maintained stable growth of 4.3 percent in 2024 despite various uncertainties and is positioned to remain resilient.
April 3, 2025
The Philippines should focus on increasing productive investment, productivity enhancement, and labor upskilling to overcome scarring effects.
February 5, 2025
To what extent does the peso’s depreciation impact inflation, and how should policymakers navigate the associated challenges?
December 2, 2024
Andrew Tsang, Chunyu Yang, Jinho Choi, Pim-orn Wacharaprapapong, Runchana Pongsaparn, Sopheawattey San, Su Su Hlaing
In the first three quarters of 2024, the Philippine economy grew steadily at 5.8 percent, bolstered by a recovery in public consumption and construction investment, as well as export recovery.
November 14, 2024
Andrew Tsang, Chunyu Yang, Sopheawattey San
Identifying the sources of scarring effects can help shed light on the policy directions to improve long-term potential growth.