Against this background, and reflecting the need to exercise patience, persistence and prudence in designing our monetary policy course, we recalibrated our monetary policy measures. This recalibration preserved the ample degree of monetary accommodation required to secure a sustained return of inflation rates towards our aim.
After laying the foundation of a digital ecosystem for PERA, we are targetting to reach 5 million Filipinos in a period of 5 years, or what we call 5 in 5. The target seems ambitious. But with more than 40 million locally employed Filipinos prior to the pandemic and around 2.2 million overseas Filipino workers, I am optimistic that this goal is easily attainable.