Under the LAF, the Reserve Bank’s policy reverse repo and repo rates set the corridor for overnight market interest rates. Thus, OMO including LAF emerged as the dominant instrument of monetary policy, though CRR continued to be used as an additional instrument of policy. The call money market was transformed into a pure inter-bank market by August 2005 in a phased manner.
These are awardees who scaled the bar of excellence within the Bangko Sentral ng Pilipinas! Ladies and gentlemen, let us congratulate and thank our awardees by giving them another well-deserved round of applause! Excellence is what we strive for at the Bangko Sentral ng Pilipinas. Excellence in the pursuit of our mandate to ensure stable prices and a sound banking system.