BSP, DOLE ink data sharing pact to boost policy making

The Bangko Sentral ng Pilipinas (BSP) and the Department of Labor and Employment (DOLE) have signed a memorandum of understanding (MOU) to facilitate data sharing between the two agencies.

This partnership aims to enhance the BSP's capability to conduct research that will strengthen employment policies and monitor labor market conditions.

The agreement will allow the BSP to utilize DOLE's data sets for more informed policy-making related to price stability and employment strategies.

Both BSP Governor Eli Remolona Jr. and DOLE Secretary Bienvenido Laguesma expressed optimism that the collaboration will lead to better policies and improved services for the Filipino people.

The MOU emphasizes a commitment to upholding data privacy and security in the exchange of information between the central bank and the labor department.