The Vice-President and I will now report on the outcome of today’s meeting of the Governing Council of the ECB, which was also attended by Commissioner Almunia. Overall, on the basis of our regular economic and monetary analyses, we expect euro area underlying inflationary pressures to remain contained in the medium term. Accordingly, we have left the key ECB interest rates unchanged.
In this assembly hall are exemplary partners who have enabled us to carry out programs that reinforce the BSP’s three pillars of central banking. You have contributed to BSP’s initiatives and programs in financial inclusion and education… consumer protection… payments and settlements... overseas Filipino remittances… coin recirculation… the clean note policy… and demonetization of our new design series currency.