We think we will succeed in making sure that we do not have a self-fulfilling prophecy of high inflation: Inflation is  2/4  BIS - Central bankers' speeches  high because it is high, and it will be higher. We think we have largely tamed that, although I am not promising there will be no more rate increases.
We have largely contained "knock-on" effects, second-order effects of inflation. Real Policy Rate Remains Accommodative The question you might ask: Will our [tight] monetary policies not slow down the economy significantly? Our own calculation is, it will slow down the economy but not significantly.