Thus, we see that the current regime of control over the money supply and the demand for money combines the necessary doses of monetary prudence (as shown by sixteen running quarters of compliance with self-imposed monetary aggregate growth targets) and flexibility (which has enabled us to weather the recent turbulence).
There has been a surge in the use of PESONet during the lockdown period that began in midMarch 2020. This is on the back of restricted mobility, shortened operating hours of business establishments, and the necessity of avoiding face-to-face transactions during the lockdown. The adoption of PESONet has also been supported by the Philippine Payments Management, Inc. (PPMI).