I thank the Institute of Corporate Directors (ICD) for this opportunity to share the corporate governance initiatives championed by the BSP for itself as an institution, in delivering on our price stability mandate, in setting an example and in giving guidelines to those under our supervision.
A plethora of literature on central banking emphasizes the importance of credibility in shaping monetary policy and in guiding the market. Credibility too is important for effective regulation. It is notable that even in everyday personal relationships, credibility is built on established competence and character. On consistency. On integrity. On good self governance.