There is, however, inherent uncertainty surrounding the neutral rate as well as on the question whether going to neutral will be sufficient to bring inflation back to target. This implies that the path and end point for the policy rate remain uncertain.
It would probably serve us well to simply continue raising our policy rates until the inflation outlook becomes consistent again with our symmetric 2% target over the medium-term. As model outcomes inherently lack robustness in the aftermath of such unprecedented shocks, we need to give more weight to actual underlying inflation dynamics in our monetary policy decisions.