At its current levels, inflation becomes self-perpetuating because of expectations of higher inflation.

The signal the market is getting from the governor is that yes, inflation will remain an enemy but attempts to bring it down have failed and that corruption is now a bigger animal that needs to be vigorously dealt with.

The underlying problem that needs to be addressed to tackle inflation is to stimulate economic production ... producers have to feel secure to produce, which is not happening.

The Fed sounded optimistic about growth, but its view that the risks of inflation and inflation expectations were reduced is the hallmark buy signal for the back end (of the bond curve),

After two or three months of inflation numbers coming in above expectations you start to revise inflation expectations upward, which puts pressure on domestic interest rates.

The main enemy Morales faces is the inflation of expectations. People have a lot of hopes, a lot of expectations. But some are expecting miracles in the short term.