Responsibilities of the Department.
Section 22
SEC. 22. Responsibilities of the Department.—The Central Bank shall establish and maintain a Department of Economic Research which shall prepare data and conduct economic research for the guidance of the Monetary Board in the formulation and implementation of its policies. Toward this end, the Department of Economic Research shall prepare forecasts of the balance of payments of the Philippines, statistics on the monthly movement of the money supply and of prices, and other statistical series and economic studies useful for the formulation and analysis of monetary, banking and exchange policies. The scope of the other functions and duties of the department shall be defined and prescribed by the Monetary Board.