If high inflation sticks, much higher interest rates will be required to restore price stability, and the economy will have to slow even more sharply. We are watching very closely to see how the economy is responding to higher interest rates.
We are looking at an expanded range of labour market indicators to assess the  3/5  BIS - Central bankers' speeches  balance in the job market and the impacts on workers. We're watching to see how supply chains are resolving and how businesses are passing on changes in costs to consumers.