The Bangko Sentral ng Pilipinas yesterday cited the contribution of banks and private companies to the central bank’s over-all policy-making decisions.
BSP Governor Amando Tetangco Jr., in his speech during the 10th BSP Stakeholders’ Awards, said results of the surveys that the central bank gives out to banks and other companies provides monetary officials relevant information vis-à-vis the central bank’s inflation targeting framework.
He said that among others, the continuous improvement in the quality of their surveys provides a good anchor for the monetary policies of the Bangko Sentral ng Pilipinas, the main objective of which is to keep prices low and stable.
Among the regular surveys of the central bank is the quarterly consumer expectation survey and the business expectation survey.
Tetangco said that when BSP compared the results of these two particular surveys to the actual economic data they found high overall convergence.*PNA