- Tightening phase will draw to a close
- We are still far from the gola of ensuring inflation is low, stable and predictable
- There are no easy outs to restoring price stability, we are trying to balance the risks or under and over-tightening
- High interest rates are beginning to weigh on growth
- We expect growth to stall in the next few quarters: once we get through this slowdown, growth will pick up
- Noted emergence of financial stresses in some markets in recent months
- Seeing early encouraging signs that underlying inflation is coming down
This is more-dovish than I anticipated so far. We could be heading to another 25 bps then a pause.
Watch live here: