MANILA, Philippines—The policy framework of the Bangko Sentral ng Pilipinas (BSP) continues to evolve as the regulator recognizes the “wide-ranging implications of digitalization” on central banking functions in a more interconnected world, its chief said on Thursday (May 6).
At an online briefing, BSP Governor Benjamin Diokno said central banking in a digitally-connected world “has never been more challenging, although exciting, than it is now.”
“We witness digitalization on almost every facet of life, and we certainly acknowledge its impact on monetary policy, banking and payment systems,” he said, noting that it could have a taming impact on prices as firms…
Keep on reading: BSP says digitalization drive to boost PH economic efficiency, lower costs