Medium term New projection  II  III  IV I 2019  II  III  IV I 2020  II  III  IV I 2021  II  III  IV I 2022  II  Source: NBS.
If you look at the chart on the right, we will see that private sector forecasts of inflation are much higher than our [BSP's] forecast. So, there is a risk that the supply shock can generate, what we all call, "second-order effects." And that is the reason we have to be quite aggressive, and we are actually more aggressive than all our Asian neighbors.