In line with its primary mandate, the Bangko Sentral ng Pilipinas vowed to remain steadfast in bringing the BSP closer to Filipinos whom it acknowledged as its ultimate stakeholders.

“The BSP’s public communication will underscore that its promotion of price stability, financial stability and an efficient payments system is aimed at enhancing the economic and financial wellbeing of Filipinos,” it said.

Also, the BSP cited the significant milestones achieved during the year.

“The year 2019 is marked by the passage of milestone laws under the BSP’s legislative agenda. The amendments to BSP charter, the law strengthening the country’s gross international reserves and the Islamic banking law have enhanced the BSP’s capability to carry out its mandate,” it said.

“The BSP is also pleased that its drive towards institutional excellence continues to gain public recognition here and abroad. This year, the BSP bested the poll of the Management Association of the Philippines and Makati Business Club for top-performing government agencies,” the BSP said.

Also, the central bank received its first ever gold award for human resource management from the Civil Service Commission.

The BSP’s coin design and education program gained recognition and bagged the Currency 2019 Coin Awards in Rome even as its artificial intelligence and data management efforts were recognized in Singapore.

On the country’s economic landscape that helped shape the monetary authorities’ policy decision, the central bank said such should remain within target.

“The average inflation rate of 2.5 percent in the first 11 months of the year is within government target while the financial system remains robust and well-capitalized. Likewise, the BSP continues to strengthen the payments system through the introduction of policies and financial technology solutions that are attuned to the dynamic market landscape,” it said.