The way ahead There are several challenges we face at the Central Bank as we move into the new millennium. These are: •  Policy objective – maintaining price stability to assist economic activity. •  Financial inclusion – how to get the un-banked portion of our population into the formal financial system.
As we move forward, we hope that the UITF participants can progress, particularly with respect to the choice of underlying investments, and that in due time UITFs can be an effective vehicle for retail investors to actively participate in the Philippine capital markets. Apart from UITFs, the BSP expects growth of trust assets to continue this year.