For these members, uncertainty about how the conflict would evolve remained high, and so a risk management strategy was appropriate. They believed that a proactive increase in Bank Rate would reduce the probability of second-round effects setting in. Further, research found that setting policy as if there were stronger second-round effects and course correcting if needed, would prove to be less costly than vice versa." Overall, the statement just reaffirms that they are keeping the door open to raise interest rates again if need be. Otherwise, they will wait and see on what the data has to say before really considering anything else.