The effectiveness of monetary policy in a low rate environment When the pandemic broke out in late February, we honoured this commitment by reacting forcefully to the rapidly emerging downside risks to price stability. The pandemic emergency purchase programme, or PEPP, has been at the heart of our policy response.
Hence, BSP will unceasingly look for better ways of helping the industry. We would continue to relax certain regulations that would support your industry’s growth while promoting accountability and good governance. In turn, I enjoin the trust industry, under the new leadership, to continue to support the BSP’s advocacies on digitalization, financial inclusion, and sustainable capital markets.