The Bangko Sentral ng Pilipinas will continue to improve the way it tracks economic activities in the regions for a more targeted approach on ensuring price and financial stability and an appropriate monetary policy response, according to its highest-ranking official.
Medalla said that it “would be remiss for the central bank to overlook such nuances and differences across regions to inform its policies”.The RMCS which will later present policy recommendations after the sessions, will “equip” the BSP with “the right tools to make better decisions and more targeted actions” since the regions have first-hand knowledge and experience of what is happening on the ground, said Medalla.
The South Luzon leg discussed recent economic developments and general banking system developments including the regional numbers. On a yearly basis, the BSP releases a report on Regional Economic Developments which focuses on the demand and supply conditions, price developments and monetary conditions, as well as the emerging outlook. The latest regional report was July 2022.
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