On capital market development, the BSP in collaboration with other financial regulators is pursuing policy reforms and initiatives that will promote a wider array of and accessibility to investment products—so that people from various income groups are able to engage in investment activities. With these initiatives and those of the government, we have a very solid basis to be optimistic about the future.
Third, markets reward timely and credible policy action, as economies that respond to emerging challenges in a flexible way and with appropriate instruments generally fare better.