On the whole, there are clear signs that the new administration will continue the key reforms and programs of the outgoing administration. As the economy recovers, the BSP recognizes the need to scale back its extraordinary measures.
The timing and conditions of the BSP’s exit strategy will continue to be guided by the inflation and growth outlook over the medium term, the state of public health, and domestic and global risks to the economy. Economies with strong fundamentals tend to handle crises better.