If everyone heads for the exit at once, bond prices will collapse and exacerbate problems for the issuing country. There will also be coordination problems. You can cram a few dozen bankers into one room and cut a deal, but we cannot do the same for bondholders.
That is why we are confident that, in the absence of new shocks, average inflation will be within-target, possibly below 3.0 percent. Supply-side pressures ease with the relaxation of import restrictions; looking to rice as a lesson Because of base effects, because of very high inflation in January 2023, [m-o-m inflation for] last January was terrible.