However, in an uncertain world, we need to be prepared to respond appropriately to shocks that may emanate from either the global or domestic environment.” 22. Many analysts commended us for the forward guidance, but a few thought that we were imprecise on the conditionality as well as on the time horizon implied by “immediate future”.
I can only say that the element of ambiguity was deliberate because it was unavoidable. (iii)  Monetary policy stance – close to normal or closer to normal? 23. Let me give you another illustration of how we agonize over how every word might be interpreted.