The Regional Tripartite Wages and Productivity Board – National Capital Region (RTWPB-NCR) convened an online board meeting on August 12, 2020 to review and assess the current monetary situation in the National Capital Region in lieu of the COVID-19 pandemic.
The Board was able to invite the Bangko Sentral ng Pilipinas (BSP) Deputy Director Dennis Bautista of the Economic and Research Group, to enlighten the Board on the monetary condition of the country and inflationary projections amidst the pandemic. He is optimistic that inflationary expectations would remain manageable and anchored on the expected target ranging for 2% to 4% until the next two years. Though the pandemic has huge impact on the monetary performance, still the country maintains to have strong macro fundamentals as the first line of defense amidst the situation.
The Board will continuously monitor the socio-economic developments as well as all relevant factors such as, movements in the supply/prices of the basic commodities and services, labor market, investments, trade and commerce, among others during COVID-19 pandemic.
END / Kim Lagcao