Indeed, a possible decline in the NAIRU and, especially, an increase in the growth rate of potential output appear to be essential elements of this expansion. Still, even if we take into account the supply-side changes, we should not expect a perfect balancing between supply and demand.
The BSP is also introducing today the enhanced 5-Piso NGC coin with nine sides to make it more distinct from other denominations in the NGC Coin Series. This reaffirms BSP’s commitment to not only uphold the highest standard of excellence, but also listen to the public’s observations as it endeavors to bring central banking closer to the people. Maraming salamat and mabuhay!