As part of the BSP’s program to develop a more inclusive financial system, we have put in place policies and programs to enable the development of a wide range of products that can cater to the needs of OFs and their beneficiaries. We also continue to implement a nationwide Economic and Financial Learning Program where we have a special focus on OFs.
We need to get off of the emergency rate of zero, move rates up slowly and deliberately. This will align more closely with the economy’s slow, deliberate recovery so that policy does not lag the recovery. Monetary policy is a useful tool, but it cannot solve every problem faced by the United States today.