AFTER the Philippines snagged a number of medals—two of them gold—at the recent Paris Olympics, the country receives once more another important recognition, this time in the arena of central banking.
So despite the high key interest rates of the BSP in the earlier part of the year, that was necessary to hold back inflation from kicking up even more, the economy still grew by 6.3 percent in the second quarter from 5.8 percent in the first quarter, and higher than the 5.6-percent growth in the second quarter of 2019.
Eli an “A-minus” rating, along with a handful of central bank governors, after assessing nearly 100 countries, territories, and regions.(He gets the same grade as the longer-serving European Central Bank President Christine Lagarde and US Federal Reserve Chairman Jerome Hayden Powell.
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