Duterte to central bank: Ensure price, financial stability

May 9, 2018

President Rodrigo Duterte urged on Wednesday the central bank to remain vigilant to ensure price and financial stability in the country.

Duterte made the call during the Bangko Sentral ng Pilipinas (BSP)' presentation in Malacanang of the new generation currency bank notes and coins.

"I also enjoin the BSP to remain vigilant in ensuring price and financial stability, instituting banking reforms and sharpening strategies. We do this because public interest is at the heart of this administration’s priorities," he said in a speech.

The Monetary Board, policy making body of the central bank, will meet on Thursday to determine if policy rates will be increased after the consumer price index has been rising this year.

Duterte also called on the BSP to stop illegal activities that impede government's efforts in promoting the integrity of the country's currency.

"Intensify your [programs] against counterfeiting and conduct more campaign [drives] in order to protect our citizens from confusion and deceit," he added. Celerina Monte/DMS