As a result, in 2011 annual inflation has remained relatively stable and close to, though slightly above, the target.5  4  Government securities in the hands of foreigners increased 0.9 percent in peso terms during September–November 2011; as of the end of this last month, more than 80 percent of government securities held by foreigners corresponded to tenors longer than one year, and total government securities held by foreigners accounted for 25 percent of total government securities outstanding.
Indeed, in some circumstances the disclosure of comprehensive information might actually reduce the risk of the market reacting adversely to misinformation or to an absence of information. In any case, where a bank knows in advance that it will be making adverse disclosures, it would generally have the opportunity to take steps to reduce the risk of an adverse market reaction.