10 The above progress in the fight against inflation, coupled with a strong macroeconomic framework and closer communication with the public within the context of the IT regime, have allowed the Banco de México to implement countercyclical policies in different episodes of weak economic activity, without adversely affecting medium and long term inflation expectations. This would have been simply unthinkable a few years ago.
As we know from our own history of inflation, this could lead to large supply shocks, supply-driven inflation. SoV we have to know how to prevent what economists call, "second-order effects"; how supply-shock inflation can become more permanent inflation depending on what the central bank does.