For 2015, therefore, we expect inflation would be well-within the target range. This should provide the BSP the flexibility to keep policy rates at low and stable levels in support of economic growth. On the exchange rate, another metric the BSP is always asked about, I can tell you that our policy remains the same.
This means we will allow the exchange rate to be essentially determined by market forces. As I mentioned earlier, we expect some volatility in the market in the near-term because of the growing consensus for a strong US dollar.