President Rodrigo Duterte will announce the new central bank governor before July 2, Finance Secretary Carlos Dominguez III told reporters Monday night.

" I already started the search. (But) I said as far I am concerned Gov. Amando Tetangco term should be extended," Dominguez told reporters after the induction of the new officers of the Economic Journalists Association of the Philippines.

Tetangco, 64, will end his term as governor of Bangko Sentral ng Pilipinas on July 2.

Under the BSP charter, a governor can serve only two six-year terms.

The Congress has to amend the charter of BSP before July 2 before Tetangco can be extended for a third term as BSP governor.

Dominguez said they have not discussed anything about the new BSP governor seriously.

"I think that this is probably the most important appointment the president is going to make. I think that there should be a process to arrive at a wise decision because we are not replacing one person, we are replacing actually four. Four positions in the central bank," Dominguez said.

" Because the governor’s term is expiring and the three members of the board terms are also expiring at the same time," Dominguez added.

He said the president has to meet with and finally evaluate qualifications of each candidate for each of those positions.

Reported candidates for central bank governor are BSP Deputy Governors Nestor Espenilla, Diwa Guinigundo EastWest Bank Chief Executive Officer and President Antonio Moncupa, Jr. and Foreign Affairs Secretary Perfecto Yasay, Jr. DMS