There is no inexorable link between the levels of deposit facility rates and exchange rates, as even the possibility of some form of carry trades depends on the general situation of risk aversion. Additionally, recent empirical evidence points to a relatively limited pass-through of the exchange rate to the economy 20.
Benjamin E Diokno: Digital finance - a thrust toward financial inclusion Speech by Mr Benjamin E Diokno, Governor of Bangko Sentral ng Pilipinas (BSP, the central bank of the Philippines), at the Sandbox Program Launch, Manila, 28 February 2022. * * * Officers and members of the Fintech Alliance PH and Alibaba Cloud Intelligence Philippines, and our financial inclusion partners, good morning!