We succeeded in containing inflation below 3 per  2  BIS central bankers’ speeches  cent until November 2010, with an expected surge in December in the wake of rising commodity prices. 10.
At its September 2010 meeting, after weighing the risks to the growth and inflation outlook over the policy-relevant horizon, the MPC decided unanimously to cut the KRR by 100 basis points to support domestic recovery. We were swimming against the tide as many emerging country Central Banks had already started monetary tightening while others were on hold.