We will also be issuing guidelines on risk-based approach to pricing to help ensure that exposures of banks/financial institutions to risks associated with lending/financing activities are adequately compensated. Third, the BSP recognizes the fundamental need to create a secure, reliable and efficient digital financial ecosystem where all these innovations can come together to achieve the greatest synergy.
As a result of increases in the variety of toolkits and also advances in monetary policy making, central banks need to be more careful about how they communicate. These points are related to the recent decision of the Bank of Japan made at the end of April to conduct a review of its monetary policy from a broad perspective.