Finally, let us congratulate the BSP’s Treasury Department under the leadership of Assistant Governor Winnie Santiago who worked with the BSP’s Payments System Office, Information Technology Sub-Sector, and Legal Office in setting up this trading platform.
The main argument here is that the central bank should effectively be responding to the movements in permanent component of the price level rather than temporary deviations. 20. There are many variants of core inflation which try to remove the volatility of price changes by statistical means.