In addition, in assessing developments in economic activity and prices, it is important to pay close attention to a variety of indicators and other relevant information in order to carefully judge overall conditions of economic activity and prices rather than concentrate on just one particular indicator, such as the CPI during the period of quantitative easing.
This should not add significantly to inflationary pressures, especially in an environment of a relatively restrictive monetary policy. 2  BIS Review 98/2008  The latest Business Expectations Survey points to a deterioration in inflation expectations, and this underscores the importance of staying the course in fighting inflation.