- We have moved policy to an area that restricts aggregate demand
- There is no reason for us to abandon it or exit it prematurely
- The path to sustainable growth is narrow
- But it can be traversed with a proactive, balanced policy
As they are still on the path of tightening policy further to guard against high inflation, these remarks are pretty much just a supportive element. If and when price pressures do ease and they can start to look at pausing, the narrative can quickly switch around especially if economic conditions worsen rapidly.