THE Bangko Sentral ng Pilipinas (BSP) said that Finance Secretary Ralph Recto has been designated as the Cabinet representative to the Monetary Board.

With this, it completed the seven members of the policy-setting body of the BSP.

According to a statement from the BSP, Recto already took his oath of office at the BSP head office in Manila.

He was named to the post by President Ferdinand R. Marcos Jr.
 

Currently, the Monetary Board is chaired by the BSP Governor Eli Remolona Jr., and counts as members former Finance Secretary Benjamin Diokno, V. Bruce Tolentino, Anita Linda Aquino, Romeo Bernardo, and former National Treasurer Rosalia De Leon.

Meanwhile, the Monetary Board, chaired by the BSP Governor, with five full-time members from the private sector, and one member from the Cabinet.

It will be recalled that the BSP officials said that the Finance Secretary is not the automatic Cabinet representative to the Monetary Board.

Rectos’ designation as representative to the Monetary Board comes after he was sworn in as the Finance Secretary.

Prior to his appointment, Recto served as the Deputy Speaker of the House of Representatives in the 19th Congress, representing the 6th District of Batangas. 

He was also a three-term senator from 2001 to 2007, and from 2010 to 2022.