This means they will typically respond to signs of second-round effects which might emerge if, say, other prices or wages began to change in response to the initial oil price effect. But where there is a persistent trend for some particular price to rise quickly over a longish period because demand is strong, the case for ignoring that is weak.
It is a pleasure for me to witness the successful closure of the first ever Term Finance Certificate (TFC) issued by any microfinance bank in Pakistan. This is indeed a significant achievement for the microfinance industry and capital markets that has been made possible by collaborative efforts of the diverse stakeholders involved in such a complex transaction.