It might not be appropriate for a policymaker to make comments on every single view held by market participants, but let me say just a few words to avoid any misunderstanding. The Bank does not assume a particular linear path toward reaching the 2 percent inflation rate.
This is not to suggest that these developments are not keenly watched and monitored. The Bank has also entrenched a transparent and, I would say, effective policy framework for management of inflation and related expectations that has so far been successful. Since 2013, inflation has been within and, at times, even below the objective range of 3 – 6 percent.