In normal conditions, when monetary policy uses short-term interest rates as its dominant policy 6 / 13  BIS central bankers' speeches  tool and builds on a broadly predictable connection between these rates and broader financing conditions, it is relatively straightforward to steer and assess its intermediate target.
In the past eight years we have stabilised our economy, delivered low inflation, ensured that our public finances are sound, widened our investor base, ensured that our growth is investment-driven, and raised our FX reserves to the level twice higher than the optimum level stipulated by international criteria.