The reason why we target core inflation is that we have potentially better control over core inflation than headline inflation. The goods and services whose prices are excluded from core inflation are generally more volatile and more subject to supply price shocks than are other prices in the consumer basket.
We continue to enhance the regulatory environment [e.g., refinement of  4  BIS central bankers’ speeches  benchmarks, trading rules] so that banks can offer instruments to help hedge risk and provide ways of portfolio diversification [e.g., FX options, swaps, credit derivatives, IRS] Also contributing to efforts to deepen the country’s capital market is the BSP’s Economic and Financial Learning Program (EFLP) which brings together under one flagship program the key economic and financial learning programs of the BSP.