We do not focus on current inflation; we focus on future inflation because monetary policy operates with a lag. And while we don’t see today’s elevated inflation going away next year, we also don’t yet see inflation running out of control. With that said, the supply shocks that are driving inflation are significant, and we are seeing increasing risks of potential secondround effects.
The challenge of financial exclusion is widespread in metropolitan areas, especially among the disadvantaged and low-income groups.