The Bank has also been making increased efforts to explain its actions and policy in detail in order to gain the better understanding of the public. One of the aims of last year’s series of monetary easing measures was to eliminate the possibility of a deflationary spiral, in other words, a potential risk of excessive price declines.
But with collaboration, constant 3/4  BIS central bankers' speeches  communication, coordination and cooperation, the challenges we face will be easier to hurdle. We at the BSP thank you — our valued stakeholders for ensuring the continuity of policy reforms to guide the economy and shape our banking and financial system into being among the world’s most resilient.