The relatively close co-movement between these two variables seems to have carried over to the more recent episode of increasing oil prices, possibly explaining part of the relatively subdued developments in US equity markets in the current year.
Its ability to maintain macroeconomic and price stability through an economic cycle has been tested, including a period of exogenous shocks." For this I thank and congratulate everyone under TEAM BSP! The Journey Continues Ladies and gentlemen, my term as Governor of the Bangko Sentral ng Pilipinas ends in July 2 or 38 days from today.