In fact, if we know where we are going, we will tell you where we are going. But how does one communicate the uncertain? The fact that we are not telling you where we are going is [because] we, ourselves, are not sure where we are going, especially in this environment that is so unpredictable.
For instance, who could have predicted just six months before that the Fed [United States Federal Reserve] will do four 75 basis points (bps) [policy rate increases]? In other words, you cannot do forward guidance when your forward guidance may add to the confusion. That is the philosophy we in the BSP are very conscious of, especially when it comes to inflation targeting.