As my fellow central banker François Villeroy de Galhau has stated, “[…] the greater the  ______________________________________________________________________________________ 20221108 ICMB Public Lecture Pierre Wunsch – National Bank of Belgium Page 8 of 11  uncertainty, the shorter the forward guidance should be”.12 With that in mind, it seems appropriate to make decisions following a meeting-by-meeting approach.
Core inflation should remain slightly above 2 per cent over the coming months, given pressures on capacity and the impact of higher core food prices.