Our Payment and Settlement Steering Committee regularly consults PhilPaSS stakeholders who are given the opportunity to raise concerns, grievances, as well as recommendations to improve PhilPaSS operations.
As the business cycle matures, the higher demand resulting from positive supply developments will accelerate price pressures, while firms’ pricing power will increase and the broader measures of slack will converge towards the headline measures. As shown in the United States, the gap between the headline unemployment rate and those broader measures typically opens in recessions and shrinks in expansions.