Then, we also have the Ukraine-Russia conflict, which along with domestic supply issues, pushed up the prices of oil and non-oil commodities. This has pushed inflation to the center of mainstream consciousness. Last week, it was reported that October inflation rose to 7.7 percent. But while these challenges are indeed tough, the Philippines will pull through.
We have done so in past crises, and we will do it again. 1/4  BIS - Central bankers' speeches  Anchored on Three Pillars Our actions are anchored on what we call our three pillars: price stability, financial stability, and a safe and efficient payments and settlements system-these are the three pillars of central banking. Allow me to provide updates on each.