Interestingly, long-run expectations for CPI inflation in the SPF ticked down to 2-1/3 percent in the latest survey, suggesting that private forecasters may have lowered their estimate of the average CPI-PCE wedge to about 30 basis points.
We also achieved fairly significant milestones, for example,  BIS central bankers’ speeches  3  in re-writing our credit risk framework, in crafting the implementing guidelines for Republic Act 10641 and introducing a Financial Consumer Protection Framework. Four, we are unrelenting in our commitment towards a more inclusive financial market and an empowered economic and financial consumer.