Our decision is based on our assessment that while recent inflation outturns show elevated path in 2018, latest baseline forecasts continue to show inflation remaining within the target in 2018 and moderating further in 2019.
We also considered that prospects for domestic activity continue to be firm on the back of robust domestic demand, strong growth in credit and liquidity, and sustained recovery in global economic growth. As such, monetary policy action is not warranted at this time, at this present moment.