1/3  BIS central bankers' speeches  In terms of financial stability, we want to maintain a “Goldilocks economy” by not allowing markets to create new risks and vulnerabilities. This means that we do not only concern ourselves with growth and price stability, but also take into account resiliency.
Implementing measures that would further enhance the existence of flexible systems and develop financial markets remains a policy imperative. Toward this end, the BSP’s policy agenda has endeavored to promote greater market efficiency and transparency by relying on market-based instruments in our operations. For instance, the BSP continues to refine its Interest Rate Corridor (IRC) framework.