But now that the BSP, under its amended charter, has the mandate to issue its own debt securities, we can rely less on the RRR for liquidity management. 2/5  BIS central bankers' speeches  With lower RRR, the banking sector can then lend more support to the economy’s growth prospects.
It is also important to note that economic growth in the Philippines is happening not only in the National Capital Region (NCR) but throughout the country. In fact, growth rates of other regions are outpacing that of the NCR. Growth in the regions is expected to remain robust, driven in part by infrastructure development across regions.