Therefore, it is important for the Bank not only to pursue further monetary easing, but also to devise and implement a variety of policy measures which contribute directly to improving the transmission mechanism. The Bank is fully aware that inflation targeting enjoys relatively wide support among academics, and that many central banks have adopted inflation targets of one kind or another.
It has become one of  6  BIS Review 29/2003  the important policy tools for central banks to enhance transparency. In that sense, I have no intention of flatly denying the concept behind the policy measures related to inflation targeting.