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Questions and Answers
When was the Bangko Sentral ng Pilipinas (BSP) established?
Who appoints the Governor of the Bangko Sentral ng Pilipinas (BSP)?
What is the primary responsibility of the Bangko Sentral ng Pilipinas (BSP)?
What is the purpose of the Bangko Sentral ng Pilipinas (BSP) having fiscal and administrative autonomy from the national government?
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Which of the following is not a responsibility of the Bangko Sentral ng Pilipinas (BSP)?
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Study Notes
Bangko Sentral ng Pilipinas (BSP) Overview
- Established on July 3, 1993, to serve as the central bank of the Philippines.
- The Governor of BSP is appointed by the President of the Philippines.
Primary Responsibilities
- The main responsibility includes formulating and implementing monetary policy to ensure price stability conducive to a balanced and sustainable economic growth.
Fiscal and Administrative Autonomy
- Fiscal and administrative autonomy allows BSP to effectively pursue monetary policy without political interference, ensuring independent decision-making.
Responsibilities Excluded from BSP
- Certain responsibilities, such as managing government funding or directly running government banks, do not fall under the purview of the BSP.
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Description
Learn about the history and establishment of the Bangko Sentral ng Pilipinas (BSP), the central monetary authority of the Philippines. Explore its evolution from the Central Bank of the Philippines to its current form as BSP, including key dates and appointments.
