Competitiveness is more than the price Moving to the second big term in your theme – Competitiveness. The BSP’s contribution to competitiveness is maintaining a stable macroeconomic environment and banking regulatory framework. Within these, the market can plan well ahead, consider expansion, innovate and find market-based solutions to address risks. The BSP’s primary mandate is price stability.
It’s noteworthy that since 2009, the BSP has been successful at keeping inflation well-within the Government’s official target range. And it appears that we would be able to do the same in 2012 and 2013. Our forecast for inflation is that over the policy horizon, inflation should be manageable. Therefore our current policy stance remains appropriate.