We should also enhance the effectiveness of monetary policy through better transparency and stronger credibility of the central bank. B. Commercial banks shall pay more attention to various legislations and incorporate state laws, regulations and supervisory requirements to their internal controls, guided by the business philosophy of maximize profits within the legal framework.
Benjamin E Diokno: Evolving inflation dynamics Opening remarks by Mr Benjamin E Diokno, Governor of Bangko Sentral ng Pilipinas (BSP, the central bank of the Philippines), at the Annual Research Conference "Inflation Dynamics in Asia and the Pacific", co-hosted with the Bank for International Settlements, Manila, 19 August 2019.