action like this. action like this. yes, it s very difficult for action like this. yes, it s very difficult for this action like this. yes, it s very difficult for this situation - action like this. yes, it s very difficult for this situation is l action like this. yes, it s very i difficult for this situation is very special because the transmission of monetary policy is very slow. mostly because they are fixed interest rate mortgages for example but also because people have a lot of excess savings from covid because they were transferred to people to go through the pandemic, also to calm down the energy crisis, so this time it s different. i don t like this phrase but i would say this is why there is a dogmatic divide between those who say don t wait for a policy mistake, don t hide too much, because things can be strong and we can go into recession and others say inflation is far too high and this is the cost of living crisis to the middle income people so we need to increase i