In its latest policy move, the BSP recognized the need for a more decisive monetary action to reduce the risks to inflation expectations and the long-term cost to output growth from prolonged high inflation. So our eye is on inflation because price stability is critical to sustained, durable economic growth.
Benjamin E Diokno: Micro, small and medium-sized enterprises (MSME) Message by Mr Benjamin E Diokno, Governor of Bangko Sentral ng Pilipinas (BSP, the central bank of the Philippines), for the MSME (Micro, small and medium-sized enterprises) Day “Negosyo Bounce Back”, 18 July 2021.