Changes in the exchange rate could have inflationary impacts, but reacting to them could pose a challenge for communication, particularly when a currency depreciation has been accompanied by a tightening of monetary policy. We have tried to emphasise that such a reaction is to the potential inflationary impact of the exchange rate change and not an attempt to target the exchange rate itself.
At issue, then, is whether that situation could change in the near future. It is doubtful that the hurricane-related shock per se would make a large difference.