Looking ahead, aging and the declining working-age population are expected to continue in those American and European countries. I cannot entirely rule out the looming menace that may unveil itself into downward pressure on inflation rates if such demographic changes are to undermine the momentum toward income creation in the economy.
And to the winners of the 14th Inter-Collegiate Finance Competition, we salute you for being at your best among our country’s best. Mabuhay ang ating mahal na bansang Pilipinas! Maraming salamat sa inyong lahat. 2  BIS central bankers’ speeches