The monetary economist, Karl Brunner, was most scathing in his criticism and in 1981 argued that the peculiar mystique surrounding central banking thrived on the pervasive impression that central banking was an esoteric art confined to the initiated elite.
Now, there has been a little change to specify that the target must be met on a twelve-month continuous basis. We are happy here at the central bank to report to you this evening that since September 2003, we have been inside the target range. This achievement has also begun to influence inflation expectations in a positive way.