The boost to domestic demand likely outweighed any effect via the exchange rate and contributed to an easing of U.S. and global financial conditions. Those positive spillovers were reinforced by widespread easing of conventional monetary policies by central banks across the globe in response to the depressed state of their economies.
But unless it is organized, processed, and available to the right people in a format for decision making, it is a burden, not a benefit". End of quote. Ladies and gentlemen. As partners of the Bangko Sentral ng Pilipinas who have generously shared your time in giving us accurate, comprehensive, and timely information with us, you have also served our country and our people.