Growth and development can be built on a low inflation and low interest rate strategy but, as I have emphasised, they need to go together. Individual interest rate decisions can be difficult, and we often have vigorous debates in MPC meetings about the exact policy stance. At times, different people will favour a somewhat higher or lower repo rate.
As we all know, favourable sentiment is a positive multiplier. Both consumers and businesses continue to express upbeat views about the Philippine economy’s growth trajectory. The positive sentiments of both consumers and businesses are indicative of the broad support to the general direction of economic policies, and this is expected to fuel the momentum of reforms moving forward.