Price stability and economic performance in the short run That price stability is beneficial to the economy in the long run is well established. As economists and policymakers have increasingly come to recognize, however, the benefits of a commitment to price stability in the short run are probably at least as significant.
I commend BMAP together with the Credit Card Association of the Philippines (CCAP), the Bankers Association of the Philippines (BAP), the Chamber of Thrift Banks (CTB) and the Rural Bankers Association of the Philippines (RBAP) for taking a similar stand and creating a multi-sectoral team for the conceptualization of a service code for consumer banking in the Philippines.