However, deriving the natural rate of interest from structural models is accompanied by the risk that the underlying narrow view of economic interactions may not be an adequate representation of reality. Basing estimates of the NRI on a distorted picture of real-world interactions would then lead to a distorted estimate of the NRI.
With these factors in mind, I would like to reemphasize that achieving 2 percent in terms of the year-on-year rate of increase in the CPI for all items is not the ultimate goal of the price stability target, but rather that its achievement should be assessed flexibly from various aspects while examining a wide range of price indicators. B.