It is the BSP’s commitment to ensure that liquidity conditions are supportive of the spending and investment needs of firms and households, while keeping a watchful eye on price stability. The recent lowering of the risks to inflation allowed the BSP to cut its policy rates by a total of 200 basis points since December 2008.
10  From an emerging market perspective, Dooley and Garber (2005) explicitly compare the current configuration of the global monetary system with the later years of the Bretton Woods period.