Central bank keeps price rise at 4% maximum

The goal of the Bangko Sentral ng Pilipinas is to create a conducive environment where the national government and the private sector can plan better.

This was among the points highlighted by BSP Governor Felipe Medalla during the Philippine Economic Briefing held in New York City for traders and potential investors from the US business community recently.

“There’s a lot of things that this government can achieve,” said Medalla, stressing that “we will do our best to create the monetary and payments environment that will get the best out of this administration.”

“To this end, the BSP will ensure that the headline inflation would be between 2 percent and 4 percent, and possibly closer to 3 percent, by the second half of 2023,” he said.

BSP bats for continuity

The BSP governor also underscored the continuity of good fiscal and monetary management in the Philippines that provides a conducive environment for investors.

“With a combination of our long record of good fiscal and monetary management covered now by good sectoral and technical improvements in many parts of the economy, coupled with our openness to foreign investors, we are confident that the Development Budget Coordination Committee’s growth targets can be achieved,” Medalla said.

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