Policy rate response will be anchored so as to be consistent with the CPI inflation target of 4,5 percent ± 1 percent in 2012 and 2013, while at the same time maintain the momentum toward economic  BIS central bankers’ speeches  9  strengthening and mitigate the risk of global economic slowdown.
In June 2004, the FOMC began to raise the target rate, reaching 5.25 percent in June 2006 before pausing. (More recently, as you know, and as the rightward portion of the slide indicates, rates have been cut sharply once again.) The low policy rates during the 2002–06 period were accompanied at various times by “forward guidance” on policy from the Committee.