It is debatable whether it is appropriate for us to carry out forward guidance policies right now, but we may face situations that do not allow us to stay away from such policies for very long.
As a consequence, the financial boom emerging markets enjoyed during previous years stemming from lax monetary stances in industrialized countries has begun to be displaced by tighter financial conditions and increased uncertainty. From the beginning, not all emerging economies were affected equally, and this will likely continue to be the case in the future.