The overall monetary policy stance continues to be supportive of the weak economy with the necessary policy tightening having proceeded at a moderate pace, showing sensitivity for the weak growth environment while seeking to counter mounting inflationary pressures in the economy.
4 Other somewhat-more-conventional economic indicators that bear on quality of life, and that accordingly might be developed and followed in more detail, include changes in the distribution of income, wealth, or consumption; the degree of upward mobility in material measures of well-being; indications of job security and confidence about future employment prospects; and households’ liquidity buffers or other measures of their ability to absorb financial shocks.