These developments reduce the amount we can cut interest rates to buffer the economy, weaken inflation expectations, and could lead to worse employment and inflation outcomes over time if not addressed.
*  *  *  Archbishop Capalla, Mayor Duterte, the officers and staff of One Network Bank (ONB), fellow bankers, special guests, Maayong gabi-i sa inyong tanan! On behalf of the Bangko Sentral ng Pilipinas, I congratulate ONB on the inaugural of its Head Office Branch, the 65th in its network of branches within Mindanao.