Inflation has become more stable, averaging very  2  BIS Review 42/2005  close to 2 per cent, and private sector inflation expectations have become well anchored. Importantly, our symmetric approach has also worked as an economic stabilizer, helping to smooth the peaks and valleys of the business cycle. Businesses and individuals can make long-term economic plans with increased confidence about the future.
Once this POS network interconnection is fully developed, therefore, it will provide even more efficient and costeffective ways to serve the many bankable yet unbanked Filipinos. Nevertheless, it is prudent to remember that while technology presents us with many opportunities, we must also remain vigilant of its attendant challenges and risks.