The Bangko Sentral ng Pilipinas (BSP) is currently conducting a series of briefings on inflation targeting in preparation for the shift to inflation targeting as the framework for monetary policy starting January 2001. The briefings aim to enhance the public understanding and appreciation of inflation targeting as a forward-looking approach to inflation management. The results of these consultations will also help in the design and implementation of the inflation targeting framework in the Philippines.
The briefing sessions with various sectors cover the following topics: (1) features of inflation targeting; (2) description of the inflation targeting process; (3) advantages and challenges of inflation targeting; and (4) operational issues in the implementation of the inflation targeting framework in the Philippines .
To date, the BSP has conducted briefings in Manila before the academe, research institutions, and government economic agencies. Starting 12 May until end-June, key officers of the BSP research sector will conduct regional briefings in Cebu City, Baguio City, Legaspi City, Davao City, and will culminate with a briefing in Metro Manila.