Risk Management and a Least Regrets approach When it comes to lessons from the academic literature, there are no hard and fast rules about how to make monetary policy decisions that are robust to periods of heightened or extreme uncertainty.
Thus, the BSP invests resources in engaging our stakeholders in policy formulation and regular consultation. We know that if we do not listen, we can lose our grounding and in the process, our policy actions may lose potency. It is important therefore that we sustain and continue to nurture our partnership.