Nestor A Espenilla, Jr: Disruptors, enablers and intended consequences Message by Mr Nestor A Espenilla, Jr, Governor of Bangko Sentral ng Pilipinas (BSP, the central bank of the Philippines), during the Peso Net Launch, Manila, 8 November 2017.
Inflation has been within this range since September 2003 which enabled us to reduce nominal interest rates by a total of 650 basis points between June 2003 and April 2005. In recent months the trend of inflation has been rising, and in October CPIX inflation measured (5% ) per cent compared to 3,7 per cent in April of this year.