The Central Bank of the Philippines, also known as Bangko Sentral ng Pilipinas (BSP), is the country's primary monetary authority. Established in 1993, its main responsibilities include managing the nation's currency, regulating banks, and ensuring financial stability. The BSP aims to promote a stable financial environment conducive to economic growth. In addition to monetary policy, the BSP oversees the payment and settlement systems in the Philippines. It also works to protect consumers and promote financial inclusion, ensuring that all citizens have access to banking services. The central bank plays a crucial role in shaping the country's economic landscape.