Given these uncertainties, it is not realistic to expect our policy instrument to control inflation down to tenths of a percentage point. In fact, the two-percentage-point inflation-control range is a reasonable approximation of the degree of precision that we can expect to achieve.
I am happy to welcome all of you to the Webinar Series 2020 that the Bangko Sentral ng Pilipinas Institute is conducting in partnership with the International Monetary Fund – Singapore Training Institute.