Last July 16, 2020, Moody’s gave a vote of confidence on the Philippines by affirming its Baa2 2/6  BIS central bankers' speeches  rating and maintaining its outlook as “stable.” In June, the Japan Credit Rating Agency upgraded our credit rating to A- from BBB+. Another Japanese credit rating agency, R&I, upgraded the Philippines’ credit rating to BBB+ from BBB in February.
The Governing Council of the European Central Bank has recently defined price stability as a rise in the (harmonised) consumer price level of less than 2%.