The Bank will keep its stance of continuing with QQE, aiming to achieve the price stability of 2 percent, as long as it is necessary for maintaining that target in a stable manner. The timing of achieving the 2 percent target has been delayed compared to the previous forecast.
Others have defined the inflation target in such a way that changes in food prices, the price of oil or the effects of value added tax are excluded from the index that they target. The degree to which the central bank is held formally accountable for inflation outcomes varies considerably.