Third, “price stability” should be expressed in numerical terms using indicators that cover goods and services consumed by households and represent the public’s true feelings regarding price developments. This basic thinking had been explained to the public before the introduction of “the price stability goal in the medium to long term”, and has not changed with this introduction.
That being said, I believe that the introduction of “the price stability goal” in place of the old “understanding of medium- to long-term price stability” is significant as an effort to specifically express what the Bank pursues based on its basic thinking on price stability.