Either way, as a matter of prudent risk management, we must conduct policy in a manner consistent with keeping inflation near target, validating the public's trust in our commitment to our inflation objective and keeping inflation expectations anchored. In regard to policy, I am very comfortable remaining patient at this point and monitoring the incoming data.
The focus on the foreign exchange constraint to small economies like our own is a vitally important insight. There a scores of counties worldwide who can benefit from our analysis of the implications of this constraint.