{"id":101532,"date":"2017-05-09T04:14:39","date_gmt":"2017-05-09T08:14:39","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=101532"},"modified":"2017-05-09T04:14:39","modified_gmt":"2017-05-09T08:14:39","slug":"espenillas-appointment-as-next-bsp-chief-good-for-economy-ing-economist","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2017\/05\/09\/espenillas-appointment-as-next-bsp-chief-good-for-economy-ing-economist\/","title":{"rendered":"Espenilla’s appointment as next BSP chief good for economy: ING economist"},"content":{"rendered":"
\"A<\/a>
A senior economist of ING Bank Manila said Bangko Sentral ng Pilipinas (BSP) Deputy Governor Nestor Espenilla Jr.\u2019s appointment as next central bank chief would benefit not only the banking sector but the entire economy as well.(Photo: Bangko Sentral ng Pilipinas\/ Facebook<\/a>)<\/figcaption><\/figure>\n

MANILA\u2014A senior economist of ING Bank Manila said Bangko Sentral ng Pilipinas (BSP) Deputy Governor Nestor Espenilla Jr.\u2019s appointment as next central bank chief would benefit not only the banking sector but the entire economy as well.<\/p>\n

In a research note, Joey Cuyegkeng forecast the continuance of the central bank’s current policy stance under Espenilla\u2019s six-year term.<\/p>\n

\u201dInflation targeting would remain while the risk-related policy bias would continue,\u201d he said.<\/p>\n

Espenilla, head of the BSP\u2019s Supervision and Examination Sector, \u201chardly talks about monetary policy publicly\u201d, Cuyegkeng observed.<\/p>\n

\u201cHowever, he is still involved in shaping monetary policy, especially when regulatory tweaks are needed to influence monetary policy,\u201d he said. \u201dSafeguarding the banking system while implementing best practices\u2026 for a more efficient banking system and financial markets would receive a further boost while pushing for seamless mobility of funds among banks and the banking system and bank clients, not only for basic banking services but for ease of fund transfer and investments.\u201d<\/p>\n

\u201dOverall, the decision is positive not only for the monetary system but for the economy — continuity and progress and display of President Rodrigo Duterte\u2019s preference and disposition to economic expertise (and his economic team),\u201d he said.<\/p>\n

The economist cited that Espenilla\u2019s appointment \u201calso demonstrates the President\u2019s confidence with and trust in his economic team\u201d and \u201cdisplays the strong influence of his economic team, especially Finance Secretary Dominguez\u201d.<\/p>\n

\u201dNow if only the President would more vigorously support the economic reforms that are now with the legislature, then more concerns would be eased and (this would) strongly push the economy forward and financial markets higher still,\u201d he added.<\/p>\n

Espenilla\u2019s appointment was announced by Malaca\u00f1ang Monday night.<\/p>\n

He will take over the helm after BSP Governor Amando Tetangco Jr. steps down from his two six-year term on July 2.<\/p>\n

Espenilla graduated magna cum laude from the UP Diliman School of Economics with a bachelor’s degree in business economics in 1980.<\/p>\n

He took his master’s degree in business administration honors program at the UP College of Business Administration and attended the Graduate Institute of Policy Science in Tokyo, Japan.<\/p>\n

His professional experience includes serving as assistant to the Western Pacific executive director of the International Monetary Fund.<\/p>\n","protected":false},"excerpt":{"rendered":"

MANILA\u2014A senior economist of ING Bank Manila said Bangko Sentral ng Pilipinas (BSP) Deputy Governor Nestor Espenilla Jr.\u2019s appointment as …<\/p>\n","protected":false},"author":33,"featured_media":99093,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[1216,18851],"class_list":["post-101532","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-bangko-sentral-ng-pilipinas","tag-nestor-espenilla-jr","mauthors-philippine-news-agency"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/101532","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=101532"}],"version-history":[{"count":0,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/101532\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/99093"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=101532"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=101532"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=101532"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}