That is, each policy decision will 2/7  BIS central bankers' speeches  be based on all the available information to monetary authorities at the time of its decision. For this reason, the BSP will continue to closely monitor economic conditions and on making reasonable assumptions about the future when formulating its monetary policy.
There is evidence to suggest that, for example, estimates of the amount of US currency held abroad are affected by remittance flows.2 Workers base their individual decision to migrate on a simple cost-benefit analysis: the income benefits from migrating should outweigh the social and economic costs of moving.