Strong and clear commitment First, the Bank decided – as I mentioned earlier – to convey a strong and clear commitment.
The Bank clearly announced in a statement that “[it] will achieve the price stability target of 2 percent in terms of the year-on-year rate of change in the consumer price index (CPI) at the earliest possible time, with a time horizon of about two years.” This is the decision of the Bank’s Policy Board – namely, it expresses the will of the Bank as an institution.