When we speak of monetary policy in the field of economics, one concept that arises in the mind of each thinker is Bangko Sentral ng Pilipinas (BSP). One of the objectives of BSP's monetary policy is to stimulate a low and even inflation (increase in the general level of prices for goods and services) favorable to a balanced and sustainable economic growth (increase in the number of goods and services produced in the country.
It was recognized on July 3, 1993 in agreement to the establishment in the 1987 Constitution. It is the highest regulatory body in the financial system that governs the banks in a state and known the country’s central monetary authority. Promoting and preserving monetary stability and the exchange rate of the national …show more content…
It has its supervisory power in which the processes and accomplishments of all banks is under its supervision. The BSP is also responsible in providing policies regarding in the extents of money, banking and credit.
Its vision is it aims to be a outstanding monetary authority and a promoter for a globally competitive economy and financial system that will give a high quality life of Filipinos. Furthermore, the mission of BSP is that it is in promoting and price maintaining stability and providing proactive governance in bringing about a strong financial system favorable to a balanced and sustainable growth of the economy. In the end, it shall conduct effective and successful monetary policy and operational supervision over financial aspects under its jurisdiction.
One current issue regarding on monetary policy is about currency specifically the new 100 peso bill design which will be expected to be produced in 2016 to solve a certain problem. The reason behind this matter is the problem that is arising, the 100 peso bill and the 1000 peso bill confused the public because of its likeness. According to the people, it is the color of the bill that makes them …show more content…
On the other hand, we can find pictures of the famous Mayon Volcano of Albay, whale shark (Rhincodon typus) and native goods of the Region of Bicol at the back of the bill. Its main color is purple.
On the other hand, 1000 peso bill is visible because of the brave conquerors of the Philippines, namely, Josefa Llanes Escoda, Vicente P. Lim and Jose Abad Santos with the Centennial of Philippines in 1998, medal of honor, with of course the most important is the Republic of the Philippines symbol and of Bangko Sentral ng Pilipinas. Back of it are the Tubbataha Reefs Natural Park (UNESCO World Heritage Site), South Sea Pearl (Pinctada maxima) and Tinalak or Ikat-dyed abaca woven in Mindanao in Southern Philippines. Its leading color is blue.
They have great differences in terms of its structure, but still its color obviously is a cause of confusion. We know that 1000 has a larger amount than 100 peso, so misunderstanding in this case makes sense. Money is very important in our daily lives, actually for now we cannot live without it since it is needed for our
It was recognized on July 3, 1993 in agreement to the establishment in the 1987 Constitution. It is the highest regulatory body in the financial system that governs the banks in a state and known the country’s central monetary authority. Promoting and preserving monetary stability and the exchange rate of the national …show more content…
It has its supervisory power in which the processes and accomplishments of all banks is under its supervision. The BSP is also responsible in providing policies regarding in the extents of money, banking and credit.
Its vision is it aims to be a outstanding monetary authority and a promoter for a globally competitive economy and financial system that will give a high quality life of Filipinos. Furthermore, the mission of BSP is that it is in promoting and price maintaining stability and providing proactive governance in bringing about a strong financial system favorable to a balanced and sustainable growth of the economy. In the end, it shall conduct effective and successful monetary policy and operational supervision over financial aspects under its jurisdiction.
One current issue regarding on monetary policy is about currency specifically the new 100 peso bill design which will be expected to be produced in 2016 to solve a certain problem. The reason behind this matter is the problem that is arising, the 100 peso bill and the 1000 peso bill confused the public because of its likeness. According to the people, it is the color of the bill that makes them …show more content…
On the other hand, we can find pictures of the famous Mayon Volcano of Albay, whale shark (Rhincodon typus) and native goods of the Region of Bicol at the back of the bill. Its main color is purple.
On the other hand, 1000 peso bill is visible because of the brave conquerors of the Philippines, namely, Josefa Llanes Escoda, Vicente P. Lim and Jose Abad Santos with the Centennial of Philippines in 1998, medal of honor, with of course the most important is the Republic of the Philippines symbol and of Bangko Sentral ng Pilipinas. Back of it are the Tubbataha Reefs Natural Park (UNESCO World Heritage Site), South Sea Pearl (Pinctada maxima) and Tinalak or Ikat-dyed abaca woven in Mindanao in Southern Philippines. Its leading color is blue.
They have great differences in terms of its structure, but still its color obviously is a cause of confusion. We know that 1000 has a larger amount than 100 peso, so misunderstanding in this case makes sense. Money is very important in our daily lives, actually for now we cannot live without it since it is needed for our