inflation report third quarter 2004 bangko sentral ng pilipinas foreword he primary objective of monetary policy is to promote a low and stable rate conducive balanced sustainable economic growth the adoption in january 2002 targeting framework for was aimed at helping fulfill this one key features greater transparency which means disclosure communication by bsp its actions decisions published as part mechanisms under objectives are i convey public overall thinking analysis behind s on so that easier follow understand ii enable better monitor commitment target thus anchor expectations government targets annual headline have been set 4 5 percent 2005 quarterly basis presenting survey various factors affecting these include recent price cost
