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BSP and IMF to Host Conference on Monetary Policy Framework

12.06.1999

The Bangko Sentral ng Pilipinas and the IMF’s regional office for Asia and the Pacific announced that they will host a conference on “A Framework for Monetary Policy in Post-Crisis Asia:  Policy Options and Inflation Targeting” in Cebu City on 8-10 December 1999.

The conference  will provide Asia’s central bankers the opportunity to exchange views on how some of the analytical developments, such as inflation targeting frameworks, might apply in Asia. The   preconditions, benefits, limitation as well as the technical and operational issues related to inflation targeting will be discussed during the conference.  Central bankers, from a wide range of countries, will discuss options for monetary policy regimes in an environment which for most countries involves greater exchange rate flexibility. To strengthen the discussion, the conference will draw on the experience of central banks from around the world that have adopted these frameworks.

Participants, largely central bankers, will come from countries including Australia, Chile, China, Hong Kong SAR, India, Indonesia, Israel, Japan, Korea, Malaysia, New Zealand, the Philippines, Singapore, Sweden, and Thailand. The Honorable Rafael B. Buenaventura, Governor of the Bangko Sentral ng Pilipinas, will deliver the keynote address.   He is expected to share his own insights on the appropriate monetary policy framework given the recent developments in the region and against the Philippines’ own experience with a monetary targeting approach.

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