BSP’s policy thrusts moving forward The BSP welcomes the seeming respite from crisis which we are now experiencing, but we continue to keep our ears close to the ground to identify looming pressures. More specifically: On monetary policy, we will sharpen economic surveillance of shifts in the domestic and global inflation dynamics, including any brewing asset price pressures.
On financial sector policy, we continue to improve the microprudential supervision of banks and pursue macroprudential regulation with equal vigor to address potential systemic risks. In line with this, we will implement the Basel 3 capital requirements for universal and commercial banks (U/KBs) by January 2014.