It would be recommendable to inform the public regularly and in general terms of the considerations underlying interest rate measures. Furthermore, the ECB will in any case, in the daily implementation of its monetary policy, have to take into account the various indicators which contain information about future price movements. All in all the differences between the two strategies should not be exaggerated.
Amando M Tetangco, Jr: Migration, remittances, economic development and the role of banks Remarks by Mr Amando M Tetangco, Jr, Governor of the Central Bank of the Philippines (Bangko Sentral ng Pilipinas), at the 13th Meeting of the World Savings Bank Institute Asia-Pacific Regional Group, Manila, 15 March 2007.