In a press statement, the group said it was comforted by the fact that global market volatility indicators remain low as it convened its 39th executive committee meeting to scrutinize offshore market developments and their implications for the country's financial stability.
For the Philippines, economic growth is robust, ranking among the highest globally. Current data suggests that annual inflation will likely stay within the target range, providing a stable macro-financial outlook, it added.
FSCC chair and Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona, Jr. expressed confidence in the stability indicators, which he said the group will continue to monitor.
He also highlighted concerns about energy price volatility and sustained high global interest rates impacting economic activity and debt servicing costs.
The FSCC — comprising the BSP, the Department of Finance, the Insurance Commission, the Philippine Deposit Insurance Corp. and the Securities and Exchange Commission — said it remains vigilant and ready to address emerging issues as necessary.
