Retail Banking refers to provision of banking products and services offered to individual customers, typically for non-entrepreneurial purposes. Let me make another point about banking. On the liability side, banking has invariably always been “retail” i.e. the banks have raised resources from a large number of retail depositors.
For this morning’s presentation, let me focus on these three discussion points. First, I will provide an overview of the latest developments in the monetary sector by dissecting inflation numbers in the first four months of 2019 and look into the BSP’s inflation outlook for this year and in 2020.