I hasten to stress that the focus on controlling inflation should, in no way, be taken to imply that other considerations concerning the health of the domestic economy are ignored. As always, on this occasion the Bank reviews economic and inflation developments in the past year, and explains the actions taken in response to those developments.
This includes an assessment of the success or otherwise of meeting the medium-term inflation objective. The Statement also updates the economic and financial outlook, and proposes a possible strategy for addressing the challenges in the period ahead.