(Having said that, and as indicated earlier, it is not unambiguously clear that demonstrating a strong commitment to a particular inflation target was in fact successful in improving the inflation/unemployment trade-off during the period of disinflation, though my personal view is that it helped.)
In those early years, it is probable that none of my colleagues themselves really believed that we 6 would be able to get inflation within a 0 to 2 per cent target and keep it there.