That said, historically, PCE inflation has averaged about 0.3 percent less than CPI inflation, and if this were to continue, the readings from the TIPS market would indicate that expected PCE inflation is running at somewhat less than 2 percent.
While open finance holds immense promise, the BSP recognizes that such benefits may only be realized when end-users’ interests are protected through the institutionalization of policies that safeguard data security, confidentiality and integrity. These are all essential in fostering public trust in the financial and payments system and advancing financial inclusion.