Manila, Aug. 1 -- The Bangko Sentral ng Pilipinas (BSP) is doing surveillance improvements to anticipate possible scenarios that could have an impact on the central bank's policy stance, a ranking official said Friday.

"So we're trying to improve a lot of things at the Central Bank including our ability to monitor what's happening on the ground real time and what it means going forward. It is important for several reasons," said BSP Monetary and Economics Sector Deputy Governor Zeno Ronald Abenoja in a briefing at the BSP office in Manila.

"One, we want to make whatever policy recommendation we give to the Monetary Board be based on more solid information, more current information. At the same time, we want to do more early warning exer...