Flexible inflation averaging could bring some of the benefits of a formal average inflation targeting rule, but it would be simpler to communicate.
As the economy gradually reopens, we seek to further promote innovative contactless payment technology and onboard more Filipinos into the formal financial system. By 2023, we aim to digitalize at least 50 percent of retail payments and at least 70 percent of Filipino adults should have transaction accounts. Complementing this reform is the recently passed Financial Consumer Protection Act.