2/3  BIS - Central bankers' speeches  To complement these country-to-country arrangements, the Philippines recently signified interest to join Project Nexus, an initiative by the Bank for International Settlements Innovation Hub that seeks to develop a multilateral solution connecting the real-time payment systems of participating countries. As we actively work toward digitalization, we also recognize the accompanying risks.
Domestic corporate goods prices have stopped declining on the whole with the rise in import prices and the improved supply-demand balance in materials industries, despite the continued fall in machinery prices. Meanwhile, consumer prices and corporate services prices have been declining gradually.