The Federal Reserve monetary policy - which is today explicitly data-dependent - has shifted part of the uncertainty within its own monetary policy committee to the markets, and we, emerging countries, must be alert to any sudden change in global investors’ expectations. 3. Monetary and financial policy in 2006  3.1.
Compliance with the Monetary Program  By the end of 2006, the Central Bank has strictly complied with the Monetary Program self-imposed targets for 14 consecutive quarters, which is a signal of certainty and predictability.