The Bangko Sentral ng Pilipinas (BSP) welcomed the latest credit analysis by Moody's Ratings, which highlighted the Philippines' strong monetary policy framework, resilient banking system, and robust external buffers.

BSP Governor EliRemolona, Jr. said, "Moody's assessment affirms the Philippines’ resilience amid evolving domestic and global risks. The BSP remains committed to safeguarding price and financial stability, while prudently managing the country’s foreign exchange reserves.”

According to Moody’s, the central bank has shown its “ability to respond to changing economic conditions, easing policy when inflationary pressures were subdued and tightening as higher energy prices increased inflation risks in 2026.”

The credit rating agency underscored that this has helped keep inflation expectations anchored in light of evolving price pressures.

Moody's likewise described the banking system as “well capitalized, profitable and competently managed” amid robust regulatory oversight, adoption of international standards, and measures to safeguard financial stability.

Moreover, the report noted that the country's external position is supported by substantial foreign exchange reserves and sustained sources of external financing.

Meanwhile, Overseas Filipino remittances, business process outsourcing sector receipts and foreign direct investments continue to support household consumption, economic growth and external resilience.

Moody’s Issuer In-Depth report provides a comprehensive assessment of an issuer’s credit profile, including its business and financial strengths, key credit drivers and risks, and factors that may influence future rating developments.

On 24 August 2026, Moody's affirmed the Philippines' investment-grade credit rating of Baa2 with a stable outlook. Bangko Sentral ng Pilipinas