But focusing on the longer term can also be a challenge as the signals are not always clear. For example, in the most recent BER survey, short-term expectations deteriorated; over the two-to-three-year time horizon inflation expectations improved, on average; but over a five-year horizon they deteriorated.
In my view, it is an instrument that could go a long way to helping Trinidad and Tobago achieve its Vision 2020. There is no doubt that our country is in the midst of a major economic boom, driven by the energy sector. Our macro-economic performance since the start of the decade has been impressive indeed.