The highlights were initially published with a lag of six weeks but we shortened it to four weeks, beginning July last year, to further improve transparency in monetary policymaking. We also publish a quarterly Inflation Report to document the rigorous economic analysis behind the conduct of monetary policy and inform the public of the overall thinking behind our decisions.
The release of the Inflation Report for each quarter is accompanied by a briefing for the media and market analysts. In cases of a breach of the inflation target, the BSP issues an open letter to the President to account for the reasons behind it and to outline the actions that will be undertaken to bring inflation back to the target range.