Implementing measures that would further enhance the existence of flexible systems and develop financial markets remains a policy imperative. Toward this end, the BSP’s policy agenda has endeavored to promote greater market efficiency and transparency by relying on market-based instruments in our operations. For instance, the BSP continues to refine its Interest Rate Corridor (IRC) framework.
Conclusion As I said at the outset, we have grounds for confidence in the future of our country, just as at CEDA’s beginning 50 years ago. Recent performance, not to mention the economic opportunities in our time zone, has helped to strengthen our confidence.