It is independent because once [BSP officials are] appointed, it is hard to remove us. And it is independent because there is only one member of the Cabinet, usually the Secretary of Finance, who is represented in the [Monetary] Board.
By and large, I have been on the Monetary Board for nearly 12 years, and there has not been a single case where the government intervened when we close a bank [to maintain financial stability] and, of course, in the area of monetary policy. There are no messages from the President on what he wants the interest rate to be.