BIS central bankers’ speeches  1  I call upon the Bancnet community therefore to give your full support to establish a safe, efficient, and reliable national retail payment system. As Albert Einstein once said, it is not enough to be a success, strive to be of value. Once again, congratulations to Bancnet on its 25th Anniversary. Mabuhay po tayong lahat!
Important progress has been made in terms of inflation, although more recently temporary shocks to food prices have put upward pressure on inflation, and wages have accelerated. As I have discussed, further efforts are needed in view of future euro area membership, in terms of both successful preparations and successful participation.