Our engaging dialogue on the assessment of seventeen years of monetary policy at the BSP highlighted key issues such as the financial stability dimension of price stability, the operating environment and practice of inflation targeting in emerging market economies like the Philippines, and the approach in responding to asset price bubbles.
We also had a spirited discussion on the complexity, impact and requirements of pursuing financial stability in bank supervision, BSP’s relationships with other regulators, monetary policy and payments and settlements. In this connection, we also looked into the challenges in the payments and settlements system in the context of meeting our goals of monetary and financial stability, as well as in achieving economic efficiency.