In addition, the Bank’s objectives are to work towards the achievement of the other goals of the government’s economic policy, in particular growth, employment and the narrowing of social gaps, and to maintain the stability of the financial system and its proper functioning. Recently inflation has been within the target range, and will probably remain within it until the end of this year.
Inflation expectations for next year, however, are relatively high. As the expectations are around the upper limit of the target inflation range, this does not present a serious problem at this stage, but it is our task to ensure that inflation should not exceed the upper limit of the target. To achieve that requires a slightly tighter monetary policy.