Rather, we need to understand them. All in all, I propose that we formulate this aim in a way that is understandable, forwardlooking and realistic. [11] In future, we should tailor our monetary policy communications more closely to the general public.
We should define our aim so that people can grasp it more easily and make sense of it, which means it must also reflect their real-life situations. That’s what I mean by the term “understandable”. Another important factor is to make sure that monetary policy safeguards stable prices in the medium term; in other words, it must look towards the future, as before.