More recently, the subsequent appreciation of the currency has led to quite large falls in the prices of many manufactured goods. Overall though, these swings in the exchange rate have played only a relatively minor role in explaining the recent cycle in underlying inflation which has been primarily driven by domestic factors.
Once the policy review is complete, we will share our findings with the public, probably during the first half of next year. I look forward to our discussion. 2/2  BIS central bankers' speeches