I welcome your questions. 1 Our objective is 2 percent inflation as measured by the annual change in the price index for personal  consumption expenditures published by the Commerce Department’s Bureau of Economic Analysis. 2 Other factors depressing the neutral rate include housing construction and lackluster exports.
As monitored by the Bangko Sentral ng Pilipinas, loans granted under the CSF program range from 8–12% a year, a fraction of the cost of borrowing from informal lenders! This is the reason why the BSP has been working on promoting financial inclusion across the country for over ten years now.