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THE Bangko Sentral ng Pilipinas (BSP) said it signed an information-sharing agreement with the Department of Labor and Employment (DoLE) to enhance the central bank’s capacity to maintain price stability.

In a statement on Thursday, BSP Governor Eli M. Remolona, Jr. said the memorandum of understanding will help the bank compile a comprehensive view of labor conditions in aid of formulating sound policy.

“Together, we can align our policies to serve the people better. I am excited for what this partnership will bring,” Mr. Remolona said.

“Good data lead to good policy, and good policy leads to good progress,” he added.

“Using DoLE’s labor market data, the BSP will produce research that can help DoLE strengthen its employment policies, sharpen labor market strategies, and improve the delivery of employment facilitation services,” the central bank said.

Labor Secretary Bienvenido E. Laguesma said he expects the partnership to improve employment opportunities and service quality.

“We at DoLE are optimistic and confident that this strategic partnership will drive progress that genuinely reaches all Filipinos, especially our jobseekers — ultimately strengthening our employment facilitation services, our workforce, and elevating the quality of employment available to everyone,” Mr. Laguesma said. — Katherine K. Chan