Let me cite some highlights of our performance: We achieved low and stable inflation conducive to sustained economic growth by adopting data-driven and forward looking policies; We have a sound, stable and liquid banking system that is well-capitalized and supports the financing needs of our economy particularly the productive sectors; We operate a safe and reliable payments system that minimizes possible systemic risks and inspires confidence in our financial system; We have nurtured a strong external position that provides buffers to potential shocks to the 1/3  BIS central bankers' speeches  economy and the financial system; and We are implementing a comprehensive agenda for financial inclusion to ensure inclusive growth that improves the quality of life of Filipinos.
Given these positive outcomes, how do these play out and benefit our economy and our people? The first and most notable positive change is the transformation of the Philippine economy — from being described as the sick man of Asia, we have moved up as a rising tiger economy whose growth is among the fastest in the region.