During this period, every effort has been made by the RBI to take advantage of favourable global financial environment, while being guarded against the evolving risks. In this background, the recent turbulence in the global financial markets was not a total surprise to us, though the manner in which it has visited was not anticipated.
Amando M Tetangco, Jr: The Central Bank of the Philippines’ expectations for business and the economy Speech by Mr Amando M Tetangco, Jr, Governor of the Central Bank of the Philippines (Bangko Sentral ng Pilipinas), at a breakfast meeting for the Tuesday Club, Manila, 8 January 2008.