As part of this, Japan should present a vision of the future socioeconomic system it seeks to attain, including the social security system and the relationship between the central and local governments, and seek to continuously take actions in accordance with this vision.
We expect inflation to remain manageable at a range of 1.75 to 2.75 percent this year, and within the 2.0-4.0 percent target range by next year and in 2022. Headline inflation averaged 2.5 percent from January to October 2020, still within the Government’s target range for the year. The strength of the Philippine Peso remains market-driven and supported by sound macroeconomic fundamentals.