The ECB reacted decisively and swiftly on two fronts. First, consistent with its mandate of maintaining price stability over the medium term and, specifically, in view of rapidly receding inflationary pressures, the policy rate was cut by 325 basis points and now stands at 1%.
Benjamin E Diokno: Tracking the Philippines’ economic recovery Speech by Mr Benjamin E Diokno, Governor of Bangko Sentral ng Pilipinas (BSP, the central bank of the Philippines), at the 16th J.P. Morgan Philippine Conference 2022, virtual, 26 January 2022. * * * Good day, everyone. I hope you are all safe and well.