Hence, we need to tailor our own precautionary solutions, and understand intended and unintended consequences of different monetary policy tools. We are certainly aware that the current low interest rates impact sectors of the economy differently. However, the dominant force to stimulate activity, employment and inflation across the economy as a whole is to bring forward spending and investment.
BSP has to reach out and collaborate with various stakeholders to synergize all efforts in financial inclusion. BSP is spearheading the implementation of the National Financial Inclusion Strategy (NSFI), an important mechanism for multi-stakeholder coordination of financial inclusion initiatives.