The latest consensus surveys indicate that growth is expected to be low but positive in the final two quarters of this year, and to recover to around 2,7 per cent next year. 4. Policy responses  4.1 There has been a multi-faceted global response to the crisis.
Even the core [inflation] numbers are high. But what must be seen is [inflation] in relation to month-on-month (m-o-m) changes. Unless there are new shocks, we are already moving toward an inflation path of below 4.0 percent by October or November [2023]. The reason for this is that the price index in March [2023] is actually slightly lower than the price index in January.