Addressing the Demand Side of the Equation At any rate, my point is that we have taken all the necessary policies on the demand side. We have taken all the necessary policies on the exchange rate side. We have taken all the necessary policies on the interest side and are willing to take some more, if necessary.
That is why we are confident that unless there are new shocks-something goes wrong in North Korea; something goes wrong in Iran; we do not know unless we have new shocks-we are on our way toward what we call a "target-consistent path of inflation." In simple English, it is not there yet, but it could be there.