This clearly includes central banks, both in their own role as market participants but also as the exchange rate is an important channel of monetary policy transmission. In a globalised world, the foreign exchange market is one of the most vital parts of the financial plumbing.
The BSP believes that sustained monetary policy support for domestic demand should help the economic recovery gain more traction. Looking ahead, the BSP affirmed its support to the economy for as long as necessary to ensure the country’s strong and sustainable economic recovery. The BSP’s actions and policy thrusts will continue to be anchored on its core mandates of promoting price and financial stability.