In 1999 the mission was reformulated as the achievement and maintenance of financial stability. In February 2000, an inflation target set by the government was introduced as the anchor of monetary policy. This entrusted a single ultimate monetary policy objective to the Bank: price stability.
For targeting purposes inflation is measured as CPIX (CPI excluding interest on mortgages) and the first target range (for 2002) was set at 3 to 6 per cent. The same target range applies to now. Achieving an inflation target through the use of monetary policy became the overriding objective.