Both in relation to a particular meeting. The board of indonesia telegram data directors and in terms of the medium-term forecast. If you look at the ranges of analysts’ opinions that they send. The framework of our macroeconomic survey, then each expert has his own picture of the world. Probably, those who believe that a rate cut will be possible as early as the beginning of next year, in fact, proceed from the fact that inflation will slow down faster — either because some more pronounced disinflationary factors are being realized, or they allow for a faster transmission of our decisions on the key rate into the dynamics of credit, aggregate demand and through this into inflation. If their faith is justified, and inflation slows down faster, current growth rates and inflation expectations decrease, the board of directors will act accordingly. For now, we proceed from the fact that, most likely, this will take a longer time. When we talk about maintaining a tight monetary policy for a long time, we are talking about the fact that in order to extinguish the already accumulated inflationary impulse, it will most likely take not several months, but several quarters.
The signal that the Central Bank may
move towards easing monetary policy as inflation and inflation expectations steadily decline still present?
— Yes.
According to the Central Bank, inflation
will return to 4% by the end of next year. Can you what type of content can be effective for my audience? specify this period — in the third or fourth quarter?
— We will conduct monetary policy in such a way alb directory that annual inflation in December next year will be close to 4%. This is our goal.
