In that context, I will also highlight how our longer-term strategy fulfills the dual mandate and embeds some of the key implications of the modern science of monetary policy.
The longer-term projections for inflation The projections for both overall and core inflation at the three-year horizon (which is currently 2010) fall in the range of 1.5 percent to 2.0 percent; the central tendency of these projections is 1.6 percent to 1.9 percent.