In July, the consensus was for a more moderate hong kong telegram data increase of 0.5 percentage points, but there were a number of analysts who said that an increase of 1 percentage point was indicat. During the meeting, both options were considered, but the second prevailed. From my point of view, in a situation where we are experiencing either a change in trend or a very rapid transformation of the economic situation.
Demanding that the market clearly gues
As well as demanding that the Central Bank predict in advance to the market a decision that has not yet been made and which will be comprehensively discussed, is, in fact, an excessive demand for communication. If, during the discussion, the board of directors proceeds from the same set of alternatives that the market is thinking about, then, in principle, communication works.
Making a decision is a matter of the collective
opinion of the board of directors, and then we explain to the market why it was exactly that way. This applies equally to the July and September episodes, because in September, the unchanged rate was also one of the alternatives – both in the benefits of e-book publishing expectations of individual analysts and during the discussion. It was considered in detail, but it was decided that greater rigidity was still required in order to limit the risks of inflation exceeding 4% next year.
— Why do you think that in August, after your alb directory decision, the market did not believe that the rate was at an increased level for a long time?
