3/4  BIS - Central bankers' speeches  With Open Finance Ph, we take a big step in unlocking equal access to financial services for all Filipinos toward building a cyber-resilient and open digital economy. Maraming salamat, at mabuhay ang ating bansang Pilipinas  4/4  BIS - Central bankers' speeches
Furthermore, repeated devaluations in order to restore competitiveness only resulted in high and volatile inflation and high interest rates. In contrast, the German Bundesbank had good experience of maintaining a rather stable inflation by the standards of that time. Since Germany was Denmark's largest export market, it was decided to link the Krone to the D-mark.