As such, our framework is inspired by successful experiences of other central banks which have demonstrated the benefits for monetary policy to rely on a sound institutional anchor, and have earned trust and respect based on their clear commitment to price stability.
This is the endogenous dynamic of the interest rate in the current context of uncertainty. High interest rates carry a cost for many sectors in the short term. However, the alternative carries a higher cost in the current context. This monetary policy protects us from uncertainty, whether domestic or external, and will bring about lasting benefits for society as a whole.