Indeed, time and again, there were phases of negative real interest rates in the past, for example at the beginning of the 2000s and during the recent financial crisis, and also in the 1970s and at the start of the 1990s – but with significantly higher inflation rates then.
It is the Bangko Sentral’s dream that financial education also become embedded in the customer relations of financial institutions. Many have said that the most effective form of financial education happens at the point of transaction. For our part, we will do our share in promoting economic and financial awareness through our Economic and Financial Learning Program (EFLP).