Last month, the BSP celebrated its 25th anniversary. Our theme, “Navigating the Future,” was apt and meaningful in a time of digitalization and technological advancement. Your chosen theme for this year’s economic forum tells me we are on the same page. Indeed, digitalization transforms business models.
Services must level up to remain relevant and responsive to increasingly demanding needs and to cater to a more sophisticated market. This principle applies also to central banking. The idea that central banks must evolve appears simple. But it is actually quite controversial and fraught with debate.