In more advanced ecpnomies, central banks (yes, like BSP) raise interest rates to stem demand for goods and encourage people to save. The downside is that it raised the interest in mortgage, like people have to pay a little more on their home/car/other loan repayments.

Unfortunately, that’s hard to see happening in the Philippines since…what savings??? IMO, What BBM’s government should do is stem the outflow of foreign currency bc PH is a country that relies heavily in imports. Another is to improve farm-to-market movement of goods. It’s amazing that imported veggies and meats are waaaay cheaper than local produce all because farmers and hog raisers receive zer support from govt.

So for now, higpit si turon talaga. Filipinos, more than others, have to.