Moreover, as the consequences of this lack of adjustment spill over onto others, G-20 members are increasingly taking individual actions that collectively risk further thwarting needed global adjustment. The number of G-20 countries that are intervening against exchange rate movements has increased. And more emerging markets are taking measures to reduce capital inflows.
5/6  BIS central bankers' speeches  As we continue to support the government in its measures to sustain growth, create jobs, and reduce poverty, the BSP will continue to focus on fulfilling its mandate of price stability conducive to a balanced and sustainable growth of the economy. Thank you for your attention.