The MPC will remain alert to any possible secondround price effects of potential shocks and stands ready to act accordingly should data indicate a shift in the inflation outlook and the risks thereto in either direction.
It is also about avoiding falling behind and ultimately becoming more dependent on others. Because the community benefits, competitiveness is not about becoming richer at the expense of others – the infamous beggar-thy-neighbour philosophy. Competitiveness is about individual and collective health, with the two of them being mutually reinforcing.