The tension that  4  BIS central bankers’ speeches  we need to manage is that economic growth requires that we maintain a low interest rate regime whereas inflation management warrants that we raise interest rates.
In managing this tension, we are deeply conscious that inflation is a regressive tax that hurts the poor the most as their earnings are not protected against rising prices. You will of course have noted that as part of managing our growth-inflation dynamics in the post-crisis period, the Reserve Bank has raised policy interest rates seven times since March 2010.