To start with, I will explain the thinking behind targets for price stability in some depth, referring to examples of such targets in other major economies. A. Thinking behind targets for price stability  Many central banks including the Bank of Japan have been implementing monetary policy, aiming to achieve an inflation rate of around 2 percent (Chart 6).
For example, central banks in such countries as Japan, the United Kingdom, Canada, and New Zealand have set 2 percent inflation as a target, and in the United States, the Federal Reserve has set a longer-run goal for inflation at the same rate.