Through a series of tightening measures, we communicated to the market then that players should begin to take stock of how they were assessing and pricing risk. In a way, the BSP was reminding banks (and the general public) that interest rates would not remain low forever, and that there is need to re-think business models and investment strategies.
Medium term New projection  II  III  IV I 2019  II  III  IV I 2020  II  III  IV I 2021  II  III  IV I 2022  II  Source: NBS.