For these reasons, flexibility in monetary policy is stressed under the current flexible inflation-targeting framework, in which a number of central banks permit deviation of actual inflation from inflation targets. Sometimes, such deviations can last quite a long time.
The Bank does not adopt an inflation-targeting framework, but it conducts monetary policy flexibly in the manner of a central bank under a flexible inflation-targeting framework by taking into account the impact on economic growth performance and financial imbalances. There are a number of other similarities between its policies and such a framework.