Question

What the importance of BSP to the Philippine economy

Answer 1

Answer:

In accordance with Republic Act No. 265, The Bangko Sentral ng Pilipinas or BSP is the central monetary authority of the Republic of the Philippines. ... The primary objective of BSP's monetary policy is to promote price stability because it has the sole ability to influence the amount of money circulating in the economy.

Answer 2

Explanation:

265, The Bangko Sentral ng Philipinas or BSP is the central monetary authority of the Republic of the Philippines. It provides policy direction in the areas of money, banking and credit and exists to supervise operations of banks and exercises regulatory powers over non-bank finicial insitutions.