There are cases of projects taking longer to complete, and/or requiring more investment to bring them to fruition. In other cases, the scope of the project may have changed. All of these things can alter the profile for mining investment by affecting both the timing and the amount of expenditure.
In calibrating its monetary policy settings, the BSP will continue to be data-dependent, guided by its assessment of the inflation outlook over the policy horizon and the risks surrounding such outlook as well as data on demand conditions. The BSP has responded swiftly and decisively to mitigate economic and financial fall-out form the COVID-19 pandemic through its monetary instruments and regulatory relief measures.