The purpose of the first description was to signal to both the markets and the public the Bank’s intention to achieve its 2 percent target within a time horizon of about two years, normally pursued by other central banks under an inflation targeting framework.
BIS central bankers’ speeches  1  The second is the provision of new TARGET2 services. We have recently conducted a market consultation on functional and business opportunities of our future real time gross settlement (RTGS) system. In this consultation, openness to new technologies was one of key components in the investigation of technological opportunities. The replies to the consultation are currently being analysed.