As the inflation target is achieved, it enhances the central bank’s credibility, which further anchors inflation expectations, which then contribute to a more stable macroeconomic environment, and that, in turn, further builds policy credibility. We should be careful neither to underweight the value of resulting simple heuristics of economic agents nor to minimize the risks of complicating them.
In addition, the central bank must help in the area of long-term growth, as long as price stability is maintained. •  Secondly, the independence of the central bank in its use of the policy instruments to achieve the target was clearly specified.